Question : Premium on issue of debentures can be used for ________.
Option 1: Issue of partly paid bonus share
Option 2: Writing off losses incurred during the year
Option 3: Writing off discount/loss on issue of debentures
Option 4: Writing off past losses
Answer (1)
19th Jan, 2024
Correct Answer: Writing off discount/loss on issue of debentures
Solution : According to Section 52(2) of the Companies Act, 2013, securities premium reserve on the issue of debentures can be used for the writing of discount/loss on the issue of debentures.
Hence the correct answer is option 3.
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