Assertion: Preliminary expenses, discount on issue of debentures, share issue expenses etc are to be written off in the year in which such expenses are incurred first from security premium Reserve and the balance if any, from statement of profit & loss.Reason: According to Section 52 of Companies Act 2013, securities premium can not be used for the following purposes: For the issue of fully paid bonus share capital. For meeting the preliminary expenses incurred by the company. For meeting the expenses, commission or discount incurred concerning securities previously issued by the companya) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong

Assertion: Preliminary expenses, discount on issue of debentures, shar

1.	Assertion: Preliminary expenses, discount on issue of debentures, share issue expenses etc are to be written off in the year in which such expenses are incurred first from security premium Reserve and the balance if any, from statement of profit & loss.Reason: According to Section 52 of Companies Act 2013, securities premium can not be used for the following purposes: For the issue of fully paid bonus share capital. For meeting the preliminary expenses incurred by the company. For meeting the expenses, commission or discount incurred concerning securities previously issued by the companya) Both A and R are correct b) A is correct, but R is wrong c) A is wrong, but R is correct d) Both A and R are wrong
Answer» Correct option is b) A is correct, but R is wrong

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