State with reasons, whether the following statement is True or False. In the balance sheet of...
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State with reasons, whether the following statement is True or False. In the balance sheet of X Limited, preliminary expenses amounting to Rs.5 lakhs and securities premium account of Rs.35 lakhs are appearing. The accountant can use the balance in securities premium account to write off preliminary expenses. A True B False State with reasons, whether the following statement is True or False. In the balance sheet of X Limited, preliminary expenses amounting to Rs.5 lakhs and securities premium account of Rs.35 lakhs are appearing. The accountant can use the balance in securities premium account to write off preliminary expenses. A True B False
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Answer rating: 100% (QA)
According to the provision of Section 52 of Companies Act 201... View the full answer
Related Book For
Financial Accounting
ISBN: 978-1118978085
IFRS 3rd edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Posted Date:
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