According to Section 52 of the Compaines Act, the amount in the Securities Premium Account cannot be used for the purpose of:
A. Issue of fully Paid Bonus Shares
B. Writing Off Losses of the Company
C. Writing off Preliminary Expenses
D. Writing Off Commission or Discount on Issue of Shares
Answer:B
According to Section 52 of the Compaines Act, the amount in the Securities Premium Account cannot be used for the purpose of:
A. Issue of fully Paid Bonus Shares B. Writing Off Losses of the Company C. Writing off Preliminary Expenses D. Writing Off Commission or Discount on Issue of Shares