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State any two purposes for which the securities premium can be utilised? - Accounts

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Question

State any two purposes for which the securities premium can be utilised?

Very Short Answer
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Solution

  1. For writing off the preliminary expenses of the company, and
  2. For issuing fully paid bonus shares to the shareholders of the company.
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Chapter 6: Company Accounts - Issue of Shares - SHORT ANSWER QUESTIONS [Page 6.149]

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D. K. Goel Accountancy Volume 1 and 2 [English] Class 12 ISC
Chapter 6 Company Accounts - Issue of Shares
SHORT ANSWER QUESTIONS | Q 41. | Page 6.149
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