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Question
Gain on reissue of forfeited shares is transferred to ______.
Options
Profit & Loss Account.
General Reserve.
Capital Redemption Reserve.
Capital Reserve.
MCQ
Fill in the Blanks
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Solution
Gain on reissue of forfeited shares is transferred to capital reserve.
Explanation:
Gain arising on the reissue of forfeited shares is a capital profit. Therefore, it is transferred to the Capital Reserve Account.
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