If shares are bought back out of free reserves then a sum equal to nom – McqOptions

MCQOPTIONS

1.	If shares are bought back out of free reserves then a sum equal to nominal value of the shares so bought back is transferred to:
A.	capital reserve account
B.	capital redemption reserve account (crr)
C.	general reserve account
D.	statutory reserve account
Answer» C. general reserve account

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