Q1872
Which of the following statements is incorrect?
A.
When proposed dividend does not exceed 10%. It is not obligatory on the company to transfer any profit to its reserve
B.
Capital redemption reserve can be utilised for writing off miscellaneous expenses and losses
AnswerC.
Dividends is not payable on the calls paid in advance by shareholders
D.
Reserves created by revaluation of fixed assets are not permitted to be capitalised
Answer: Option B
Solution
Answer: Option B
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