9 Views

Question : Received share application money towards application & allotment of shares will be credited to which of the following account?

Option 1: Share Application & Allotment A/c

Option 2: Share Application A/c

Option 3: Share Capital A/c

Option 4: None of these


Team Careers360 12th Jan, 2024
Answer (1)
Team Careers360 15th Jan, 2024

Correct Answer: Share Application & Allotment A/c


Solution : Answer = Share Application & Allotment A/c

The amount received as share application money towards application and allotment of shares will be credited to the Share Application and Allotment Account. This account is used to record the funds received from shareholders during the application and allotment process before they are transferred to the Share Capital Account upon final allotment.
Hence, the correct option is 1.

Related Questions

Amity University, Noida Law A...
Apply
700+ Campus placements at top national and global law firms, corporates and judiciaries
Amity University, Noida BBA A...
Apply
Ranked amongst top 3% universities globally (QS Rankings)
Amity University | M.Tech Adm...
Apply
Ranked amongst top 3% universities globally (QS Rankings).
IBSAT 2025-ICFAI Business Sch...
Apply
IBSAT 2025-Your gateway to MBA/PGPM @ IBS Hyderabad and 8 other IBS campuses | Scholarships worth 10 CR
Graphic Era (Deemed to be Uni...
Apply
NAAC A+ Grade | Among top 100 universities of India (NIRF 2024) | 40 crore+ scholarships distributed
Amity University Noida B.Tech...
Apply
Among Top 30 National Universities for Engineering (NIRF 2024) | 30+ Specializations | AI Powered Learning & State-of-the-Art Facilities
View All Application Forms

Download the Careers360 App on your Android phone

Regular exam updates, QnA, Predictors, College Applications & E-books now on your Mobile

150M+ Students
30,000+ Colleges
500+ Exams
1500+ E-books