CUET Accountancy - At the time of forfeiture, share capital account is | PYQs + Solutions

CUET Accountancy 2025 22 May Shift 2

Company Accounts

Easy

common

Debited with face value.

Credited with face value.

Debited with called up value.

Credited with called up value.

✅ Correct Option: 3

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What is the nominal share capital?

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Select the TRUE statement related to the issue/re-issue of equity shares.

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Securities Premium Account can be used only for the following purposes:

(A) To issue partly paid bonus shares to the extent not exceeding unissued share capital of the company;

(B). Buy back of own shares.

(C). To write-off the expenses of, or commission paid, or discount allowed on any securities of the company;

(D). To pay premium on the redemption of preference shares or debentures of the company.

Choose the correct answer from the options given below:

CUET Accountancy 2025 22 May Shift 2 PYQs