Real,Nominal or Personal. Where do reserves, general reserve and Specific Reserve Go? and why?
- 1 Answers
- 1615 Views
- I also Faced
- E-Mail Answers
Answer / Avanish Kumar
In accounting:n- Real reserves represent assets that are set aside to cover future liabilities or expenses (e.g., depreciation reserve).n- Nominal reserves refer to assets that have been allocated to specific purposes but may not be immediately available for use (e.g., capital reserves).n- General reserves consist of funds that have been set aside for general corporate purposes and are not earmarked for any particular liability or expense.nThe reserves are usually reported as part of shareholders' equity on the balance sheet.
| Is This Answer Correct ? | 0 Yes | 0 No |
how calculate intrest on advance tax ? and penalty on vat?
What is the Difference Between Limited Co. and Pvt. Ltd. Co. ?
Tell me what is the equation for acid-test ratio in accounting?
what is accrued expense
When we received payment from creditors
What is a trial balance in accounting?
What is accounting for plant assets?
how is suspense a/c treated after it has been shown in the trail balance ?
How is the accounting for hire purchase transactions done?
how to pass interest on security entries and salary payable entries in tally and how to maintain e-commerce company account please revert me ASAP its needful for me
What are the advantages of computer accounting over paper accounting?
Do you know the term account payable?
Audit 
