Question : As per Section 52 of Companies Act 2013, Securities Premium Reserve cannot be utilised for ___________.

Option 1: Writing off capital losses.

Option 2: Issue of fully paid bonus shares.

Option 3: Writing off discount on issue of securities.

Option 4: Writing off preliminary expenses.

Question : The sum obtained as a premium on securities cannot be used for the following, according to Section 52(2) of the Companies Act, 2013:

Option 1: Writing off preliminary Expenses

Option 2: Buy back of its own shares

Option 3: Purchase of Fixed Assets

Option 4: Premium Payable on Redemption of Prefrence share

Question : Pitts India Act of  was a/an

Option 1: White paper

Option 2: Regulating Act

Option 3: Ordinance 

Option 4: Resolution

Question : The amount of Securities Premium Reserve Account is utilised for the purposes specified in Section 52(2) of the Companies Act, 2013. The purposes for which Securities Premium Reserve can be used are:

Option 1:

for writing off preliminary expenses

Option 2: for writing off expenses of, or commission paid or discount allowed on debentures of the company

Option 3: for providing premium payable on the redemption of redeemable preference shares or debentures of the company

Option 4: All of the above

Question : Which of the following statements is false?

Option 1: A company can raise funds beyond its Authorised Capital.

Option 2: Dividends declared should be classified in the Balance Sheet as a current liability.

Option 3: Dividends are usually paid as percentage of Paid up Capital.

Option 4: As per the Companies Act, only Preference Shares which are redeemable within 20 years can be issued.