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6 questions
(A), (B) and (D) only debenture correct; interest charge sinking fund redemption per AS.
Ref: NCERT Accountancy Class XII Chapter 7 Debentures explains issue redemption interest sinking fund accounting treatment Companies Act provisions clearly.
Debentures Suspense Account debenture correct; interest charge sinking fund redemption per AS.
Ref: NCERT Accountancy Class XII Chapter 7 Debentures explains issue redemption interest sinking fund accounting treatment Companies Act provisions clearly.
Equity shares may be exchanged at debenture correct; interest charge sinking fund redemption per AS.
Ref: NCERT Accountancy Class XII Chapter 7 Debentures explains issue redemption interest sinking fund accounting treatment Companies Act provisions clearly.
Miscellaneous expenditure debenture correct; interest charge sinking fund redemption per AS.
Ref: NCERT Accountancy Class XII Chapter 7 Debentures explains issue redemption interest sinking fund accounting treatment Companies Act provisions clearly.
After redemption, sinking fund balance transferred to General Reserve.
Ref: NCERT Accountancy Class XII Chapter 7 Debentures explains issue redemption interest sinking fund accounting treatment Companies Act provisions clearly.
Debenture interest is charge against profit; must be paid irrespective profit.
Ref: NCERT Accountancy Class XII Chapter 7 Debentures explains issue redemption interest sinking fund accounting treatment Companies Act provisions clearly.
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