Debenture Redemption Premium Account and Discount on issue of debentures Account are Nominal Accounts.
Options
A
B
C
D
For any discrepancies in this question, email contact@cadada.in
Company AccountsQ-1 | Issue of DebenturesQuestion 4900 of 112
All Questions Correct Answer
✅ Option — Correct Option
All Options:
- A
- B
- C
- D
Detailed Solution & Explanation
False: Debenture Redemption Premium Account is a Personal Account but Discount on
issue of Debentures Account is a Nominal Account.
More Questions from Company Accounts
Reserve Capital
Cumulative preference shares
Minimum subscription
Reserve Capital and Capital Reserve carry the same meaning.
As per Table F, the Minimum rate of interest that can be charged on calls- in-Arrear and that can be allowed on calls-in-advance are 10% p.m. and 12% p.m. respectively.
Re-issue of forfeited shares is allotment of shares but not a sale. [May 2018, 2 Marks]
Ready to Master Company Accounts?
Practice all 112 questions with instant feedback, earn XP, track your streaks, and ace your CA Foundation exam.
Start Practicing — It's Free