1.

ASSERTION: Underwriters usually agrees for commission to take shares not subscribed by the public.REASONING: The cash / shares paid to the underwriters should be written off in the year from Securities premium Reserve or Statement of Profit and loss. (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.

Answer»

Correct option is (i) Both A and R are correct



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