✓ Board-verified
Accountancy · 2024 · 1 mark
CBSE 2024 · Region 4 · Set 1 · Q7
Assertion (A) : Interest on bearer debentures is paid to a person who produces the interest coupon attached to such debentures. Reason (R) : Bearer debentures are transferred by way of delivery and the company does not keep any record of these debenture holders. Choose the correct option from the following :
Official answer
From CBSE’s own marking scheme for this paper.
(A)
Both Assertion (A) and Reason (R) are correct and Reason (R) is the correct explanation of Assertion (A)
Marking-scheme solution
(A)
Both Assertion(A) and Reason(R) are correct and Reason (R) is the correct
explanation of Assertion (A).
More from Issue and Redemption of Debentures
- Maharaja Ltd. took over assets of ₹ 15,00,000 and liabilities of ₹ 2,00,000 of Dolphin Ltd. for an agreed…2024
- Debentures which can be transferred by way of delivery and the company does not keep any record of the…2025
- Sinco Ltd. purchased assets of the book value of ₹ 1,98,000 from Dixon Ltd. It was agreed that the purchase…2023
- On 1st April, 2022, Mega Ltd. issued 30,000, 10% Debentures of ₹ 100 each at a discount of 10%. The total…2024
- Satnam Ltd. purchased Building worth ₹ 5,00,000, Plant worth ₹ 4,60,000 and Furniture worth ₹ 2,20,000 from…2022
- Shivalik Ltd. issued 7% debentures of 2 100 each at a discount of 5% on 1st April, 2023. Discount on issue of…2025
- The debentures which do not carry a specific rate of interest are called:2024
- Debentures in respect of which all details including names, addresses and particulars of holding of the…2025
CBSE Class 12 Accountancy past-paper question from the 2024board exam, with the answer as CBSE’s own marking scheme gives it. Where our answers come from.