Amount received above face value goes to which account?
ACapital redemption reserve
BGeneral reserve account
CSecurities premium account
DRevaluation reserve
Answer & Solution
Correct answer: C. Securities premium account
Section 52(1) requires the aggregate premium received on shares to be transferred to a securities premium account.
Keep practising Internal Reconstruction Sections
Browse all Internal Reconstruction Sections questions for CA Inter, or explore more Accounting topics.
Related questions
In accounting, share capital equals the nominal value ofIn debt restructuring, obligations are typically spread overMalaysia's scheme of arrangement provision is in which section of its 2016 Act?UK schemes of arrangement are found in which Part of the Companies Act 2006?Canada's plan of arrangement: section 192 of which Act?Australian schemes of arrangement are located in which Act?A court-approved agreement between a company and its shareholders or creditors is aProvision for dissenting members under a merger order is made by the