Question

Which of the following is not a 'free
reserves for the purpose of buyback
of shares
O Revaluation Reserve
O Dividend Equalization Reserve
O Profit & Loss A/C
O General Reserve​

Answer 1

• The buy-back of shares can be made only out of:(a) Free Reserves (means reserves as per the last audited Balance Sheet which are available for distribution and share premium but not the share application amount) (b) Share Premium Account (c) Proceeds of any Securities

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