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ASSERTION: Section 52(2) of the Companies Act,2013 restricts the use of the amounts received as share premium on securities for specified purposes.REASON: Securities premium reserve can be used to write off preliminary expenses of the company.(i) Both A and R are correct (ii) Both A and R are in correct (iii) A is correct but R is not correct explanation of A (iv) A is incorrect by R is correct |
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Answer» Correct option is (i) Both A and R are correct |
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