Question : Which of the following statements is false?  

Option 1: Loss on Issue of Debentures is debited at the time of issue of debentures following the Prudence Concept of Accounting.

Option 2: Loss on Issue of Debentures is written off from Securities Premium Reserve, if it exists and thereafter from Statement of Profit and Loss.

Option 3: Loss on Issue of Debentures Account is an Expense Account and Premium on Redemption of Debentures Account is a Liability Account.

Option 4: Premium on Redemption of Debentures Account is credited at the time of payment, i.e., on redemption of debentures.

Question : Which of the following statements is false?  

Option 1: Loss on Issue of Debentures is debited at the time of issue of debentures following the Prudence Concept of Accounting.

Option 2: Loss on Issue of Debentures is written off from Securities Premium Reserve, if it exists and thereafter from Statement of Profit and Loss.

Option 3: Loss on Issue of Debentures Account is an Expense Account and Premium on Redemption of Debentures Account is a Liability Account.

Option 4: Premium on Redemption of Debentures Account is credited at the time of payment, i.e., on redemption of debentures.

Question : From which account, expenses on issue of shares will be first written off from :

Option 1: Statement of Profit and Loss Account

Option 2: Miscellaneous Expenditure Account

Option 3: Share Issue Expense Account

Option 4: Securities Premium Reserve Account

Question : Discount on issue of debenture is a

Option 1: Capital loss to be written off over the tenure of the debentures

Option 2: Revenue loss to be charged in the year of issue

Option 3: Capital loss to be written off from Capital Reserve

Option 4: Capital loss to be shown as goodwill

Question : Cash Flow Statement by Indirect Method is prepared on the basis of ___________.

Option 1: Balance sheet

Option 2: Profit and loss account

Option 3: Both 1 and 2

Option 4: None of the above