Multiple Choice Questions on How much age of the Net Profit is to be transferred to Reserves before declaration and payment of Di........... for SEBI Grade A ( Officer) Exam Preparation

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Multiple Choice Questions

How much age of the Net Profit is to be transferred to Reserves before declaration and payment of Di...........

Companies Act-Phase (I & II) Paymentofdividends
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    How much %age of the Net Profit is to be transferred to Reserves before declaration and payment of Dividend:

    10% of the Net Profit

    Incorrect Answer

    No compulsion to transfer and % if any to be transferred to reserves depends upon the discretion of BODs.

    Correct Answer

    15% of the Net profit

    Incorrect Answer

    None of the above

    Incorrect Answer
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    Explanation:

    As per section 123 of Companies Act, 2013, there is no compulsion to transfer any amount to reserves before payment of dividend to the shareholders and % if any to be transferred to reserves depends upon the discrition of BODs.

    By: Vikas Goyal
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