The amount paid as premium for an insurance policy taken for redemption of debentures is credited at the end of the accounting period to:

Question

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Profit and Loss Appropriation Account

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Insurance Policy Account

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Debentures Redemption Fund Account

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Insurance Premium

1.	The amount paid as premium for an insurance policy taken for redemption of debentures is credited at the end of the accounting period to:
A.	Insurance Policy Account
B.	Debentures Redemption Fund Account
C.	Profit and Loss Appropriation Account
D.	Insurance Premium
Answer» C. Profit and Loss Appropriation Account

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