CFO Question:
Please explain reserves and Surpluses?
Answer:
Reserves and Surpluses indicate that portion of the earnings, receipt or other surplus of the company appropriated by the management for a general or specific purpose other than provisions for depreciation or for a known liability. Reserves are classified as: Capital Reserve and Capital Redemption Reserve.
| Previous Question | Next Question |
| Tell me what is business Entity Concept? | Tell me what is Financial Accounting? |