In case the shares are bought back at discount, the amount of discount on buy-back will be credited to .........

CS Executive · Corporate and Management Accounting · PYQS · June 2023
In case the shares are bought back at discount, the amount of discount on buy-back will be credited to .........
(A) Capital Redemption Reserve A/c
(B) Capital Reserve A/c
(C) General Reserve A/c
(D) Discount on the issue at discount A/c

Answer & Explanation:

Correct Answer: Option (B)

Official answer key: (B).

Topics: Corporate Accounting

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