As per section 78 of the companies act, amount collected as premium on securities cannot be utilized for:
A) issuing fully paid bonus shares to the members
B) purchase of fixed assets
C) writing off preliminary expenses
D) buy back of it's own shares
Correct Answer:
Verified
Q15: Cash Price =
A)hire purchase price - total
Q16: Which of the following statement is false:
A)a
Q17: Which of the following are the characteristics
Q18: Share application and allotment account is a:
A)personal
Q19: Securities premium account is shown on the
Q21: The portion of the authorised capital which
Q22: Which of the following statement is false:
A)buy
Q23: If shares are bought back out of
Q24: Maximum buy back limit in any year
Q25: Which of the following statement in false:
A)bonus
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