Which of the following accounts used to record the issue of shares is a permanent account?

Question

Quizplus · Accepted Answer

Share capital is a permanent account as it represents the capital invested by shareholders in the company and is not affected by any temporary transactions such as the issue of shares or payment of dividends. The other options, Application, Allotment, and Call, are all temporary accounts used to record the various stages of share issuance and are closed once the process is completed.

Which of the Following Accounts Used to Record the Issue