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Company Accounts – Issue of Shares — Book Keeping & Accountancy STD 12 Commerce / Arts — Question

Maharashtra BoardEnglish MediumSTD 12 Commerce / ArtsBook Keeping & AccountancyCompany Accounts – Issue of Shares1 Mark
Question
Define Securities Premium Account.
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Answer

In case of issue of shares at a premium, a separate account into which premium amount is deposited is called ‘Securities Premium Account’.

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