{"id":59569,"date":"2024-04-16T01:39:33","date_gmt":"2024-04-16T01:39:33","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=59569"},"modified":"2024-04-16T01:39:33","modified_gmt":"2024-04-16T01:39:33","slug":"share-allotment-account-is-when-share-allotment-becomes-due","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/share-allotment-account-is-when-share-allotment-becomes-due\/","title":{"rendered":"Share allotment account is when share allotment becomes due"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Debit&#8221; option2=&#8221;Credit&#8221; option3=&#8221;Debit or Credit&#8221; option4=&#8221;All of the above&#8221; correct=&#8221;option2&#8243;]<!--more--><\/p>\n<p>The correct answer is: <strong>B. Credit<\/strong><\/p>\n<p>Share allotment account is credited when share allotment becomes due. This is because the company has now incurred an obligation to issue shares to the shareholders, and this obligation is recorded as a liability.<\/p>\n<p>The other options are incorrect because:<\/p>\n<ul>\n<li>Option A (Debit) is incorrect because the share allotment account is a liability account, and liabilities are always credited when they are incurred.<\/li>\n<li>Option C (Debit or Credit) is incorrect because the share allotment account is always credited when share allotment becomes due.<\/li>\n<li>Option D (All of the above) is incorrect because only option B is correct.<\/li>\n<\/ul>\n<p>I hope this helps! Let me know if you have any other questions.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Debit&#8221; option2=&#8221;Credit&#8221; option3=&#8221;Debit or Credit&#8221; option4=&#8221;All of the above&#8221; correct=&#8221;option2&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-59569","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Share allotment account is when share allotment becomes due<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/share-allotment-account-is-when-share-allotment-becomes-due\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Share allotment account is when share allotment becomes due\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Debit&#8221; 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