As per section 78 of Company's 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 its own shares
Correct Answer:
Verified
Q59: A reserve created for redemption of debentures
Q60: Which of the following statement is false?
A)A
Q61: Which of the following are characteristics of
Q62: Which of the company's capital is not
Q63: Securities Premium Account is shown on the
Q65: The portion of the Authorized Capital which
Q66: A Company can issue share at a
Q67: A new company set up by existing
Q68: Debenture holders are the:
A)Owners
B)Creditors
C)Directors
D)Suppliers
Q69: Debenture holder receive:
A)Fixed Interest
B)Dividend
C)Profit
D)None of them
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