State with reasons whether the following statements are True or False: i. Insurance claim received on account of plant and machinery completely…

State with reasons whether the following statements are True or False: i. Insurance claim received on account of plant and machinery completely damaged by fire is a capital receipt . ii. In the balance sheet of Angel Limited, preliminary expenses amounting to 15 lakhs and securities premium account of 105 lakhs are appearing; The accountant can use the balance in securities premium account to write off preliminary expenses . iii. The financial statements must disclose all the relevant and reliable information in accordance with the Full Disclosure Principle. iv. In case of admission of a new partner in a partnership firm, the profit/loss on revaluation account is transferred to all partners in their new profit sharing ratio . v. The debit notes issued are used to prepare Sales Return Book . vi. Debenture holders enjoy the voting rights in the company .