Question

7. Underwriting commission one is debited to
a. Underwriting commission A/C b. underwriter's A/c
c. Share Allotment A/c
d. none of the above​

Answer 1

Answer:

Underwriting commission paid is capital loss for the company. This will be shown in the asset side of the Balance Sheet under the head. 'Miscellaneous Expenditure

Answer 2

Answer:

Underwriting commission is an expense and it is  debited to (a) underwriting comission A/c.

Therefore, the correct answer is (A).