which of the following is not an allowable use of share premium account?
A. provide for the premium payable on the redemption of 3% cumulative redeemable non participating preference shares.
B.Provide for the premium payable on the redemption of 4%
unsecured convertable debentures.
C.write off the preliminary and formation expenses of a company.
D. Finance the issue of $1 bonus shares credited as 95 cents paid to existing shareholders.
the answer on OT is D. but to me it is A. pls is there anything I am missing ?