Question

    According to section 63 of Companies Act 2013, which of

    the following cannot be used for issue of bonus shares?
    A Securities premium account Correct Answer Incorrect Answer
    B Free reserves subject to as defined under Section 2 (43) Correct Answer Incorrect Answer
    C Revaluation reserve Correct Answer Incorrect Answer
    D Capital redemption reserve Correct Answer Incorrect Answer

    Solution

    The correct answer is C

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