CA CPT June 2015 Question Paper Fundamentals of Accounting for online practice

Question : 57 of 60

Marks: +1, -0

Which of the following statements is false?

Loss on reissue should not exceed the amount forfeited
When shares are reissued at a loss such loss is debited to forfeited shares a/c
If loss on reissue is less than the amount forfeited the surplus should be transferred to Capital reserve/c
If the reissued amount and forfeited amount exceeds the face value of shares reissued the excess amount is always credited to Share forfeited a/c

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