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ABC Ltd was incorporated with an authorized share capital of Rs...

This question belongs to Commerce Accounting
Accounting
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ABC Ltd was incorporated with an authorized share capital of Rs. 1,00,000 equity shares of Rs. 10 each. The board of directors decided to allot 10,000 shares credited as fully paid to the promoters of the company for their services. Which account should be debited in the books of ABC Ltd?

Answer & Solution
Correct Answer: Option C
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