Maharashtra State BoardHSC Arts 12th Board Exam
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State, Whether the Following Statements is True Or False. - Book Keeping and Accountancy

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MCQ
True or False

State, whether the following statements is True or False.
Shares are issued for cash only.

Options

  • True

  • False

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Solution

False
Explanation:
 Shares can be issued for cash or for consideration other than cash. Sometimes shares are issued to vendors against purchase of assets. Also, shares are issued to the promoters of a company for setting up the company.

Concept: Issue of Shares for Consideration Other than Cash
  Is there an error in this question or solution?
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APPEARS IN

Micheal Vaz Accounts - Book Keeping and Accountancy HSC 12th Standard Maharashtra State Board
Chapter 10 Company Accounts Part - 1 (Accounting for Shares)
Exercise | Q 12 | Page 351
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