State true or false with reason.
loss on issue of debentures is written off in the year the debentures are issued from the statement of profit and loss
Dear student
false, loss on issue of debentures should be written off as early as possible either against securities premium, reserve or by debiting the statement of profit and loss, but should be written off the life time of the debentures.out of the balance in discount on issue of debentures account, amount to be written off within 12 months of the date of balance sheet will be shown as other current assets under current assets and balance as other non current assets under non current assets.
Regards
false, loss on issue of debentures should be written off as early as possible either against securities premium, reserve or by debiting the statement of profit and loss, but should be written off the life time of the debentures.out of the balance in discount on issue of debentures account, amount to be written off within 12 months of the date of balance sheet will be shown as other current assets under current assets and balance as other non current assets under non current assets.
Regards