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Accounting for Sinking Fund

Which account...

Question

Which account is to be debited to set aside funds for debenture redemption?

A

None of these

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B

Either Assets or Liabilities

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C

Assets

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D

Liabilities

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Solution

The correct option is D
Liabilities

Profit and Loss A/cis to be debited to set aside funds for debenture redemption

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