account is to be debited while setting aside profits as a reserve.

Profit or loss

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DRR

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Bank

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Debentures

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Solution

The correct option is A Profit or loss
Profit or loss account is to be debited, and the debenture redemption reserve account is credited while setting aside profits as a reserve.

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Similar questions

Which account is to be debited while setting aside profits as a reserve?

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