In the Case of a Share Issue Being Oversubscribed,excess Application

question 30

Multiple Choice

In the case of a share issue being oversubscribed,excess application monies:

• A) will always be refunded to applicants.
• B) may be used to reduce future amounts owing on allotment if the shares are issued on a pro rata basis.
• C) must be recorded as revenue in the current financial period.
• D) must be placed in a trust account until a refund is requested by applicants.

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