Multiple Choice Questions on When preference shares are redeemed out of profits an amount equal to nominal value of shares shall ........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

When preference shares are redeemed out of profits an amount equal to nominal value of shares shall ...........

Companies Act-Phase (I & II) Share capital and debentures
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    When preference shares are redeemed out of profits an amount equal to nominal value of shares shall be transferred to an account called-

    Securities premium account 

    Incorrect Answer

    Capital appreciation account

    Incorrect Answer

    Capital redemption reserve

    Correct Answer

    Capital paid-up reserve

    Incorrect Answer
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    Explanation:

    As per sec 55 when shares are redeemed out of profits an amount equal to nominal value of shares shall be transferred to Capital redemption reserve.

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