7. Transfer to Capital Redemption Reserve Account can be made from:
(a) General Reserve
(6) Capital Reserve
(c) Securities Premium Account (d) All of these
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Answer:
the answer is c
Explanation:
because Where a company purchases its own shares out of free reserves or securities premium account, a sum equal to the nominal value of the shares so purchased shall be transferred to the capital redemption reserve account and details of such transfer shall be disclosed in the balance sheet.
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