The amount of Securities Premium Reserve cannot be used for:
a. Writing off preliminary expenses
b. Writing off the amount of discount on issue of debentures
c. Issuing bonus shares to shareholders
d. Transferring to general reserve
Dear Student
The amount of Securities Premium Reserve cannot be used for (d) Transferring to general reserve.
Section 52 of the companies act provides the purposes for which securities premium can be utilised.
Regards
The amount of Securities Premium Reserve cannot be used for (d) Transferring to general reserve.
Section 52 of the companies act provides the purposes for which securities premium can be utilised.
Regards