Distinction Between Provisions And Reserves
Reserves 1. It is created by debiting the profit and loss appropriation account.2. It is created to meet an unknown liability, or to strengthen the financial position of the company ...
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Reserves 1. It is created by debiting the profit and loss appropriation account.2. It is created to meet an unknown liability, or to strengthen the financial position of the company ...
In this web article we will also discuss:1. Nature of Reserves or Provisions 2. Differences between reserves and provisions3. Secret ReservesProvisions are for known liability or losses, the amount of ...
How Secret reserve is created?A secret reserve is created by the following methods:1. By under valuation of assets much below their cost or market value, such as investment, stock in ...
