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    Question

    Which of the following statements is

    INCORRECT?
    A A company may issue fully paid-up bonus shares to its members out of its free reserves Correct Answer Incorrect Answer
    B A company may issue fully paid-up bonus shares to its members out of the capital redemption reserve account Correct Answer Incorrect Answer
    C A company may issue fully paid-up bonus shares to its members out of the securities premium account Correct Answer Incorrect Answer
    D A company may issue fully paid-up bonus shares to its members out of capitalising reserves created by revaluation of assets Correct Answer Incorrect Answer

    Solution

    The correct answer is D

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