If all the debentures are redeemed, balance in the Debenture Redemption Fund account is transferred to:
This question was previously asked in
Shift 31/05/2023 3:30 PM - 6:30 PM
A
Capital Reserve
B
Statement of Profit and Loss
C
Capital Redemption Reserve
D
General Reserve
Correct Answer
General Reserve
Detailed Explanation
The correct answer is:
1. Capital Reserve
When all the debentures are redeemed, the balance in the Debenture Redemption Fund account is transferred to the Capital Reserve. This reserve is created to absorb any capital gains or profits realized during the process of debenture redemption.
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