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what is mean by reserve?
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Answer / deepti nauni
reserve means amt set aside out of profit and other surplus
to meet future uncertanities
| Is This Answer Correct ? | 29 Yes | 0 No |
Answer / sudhakar
an amount set aside out of profits or other surplus and
designed to meet contingicies
| Is This Answer Correct ? | 7 Yes | 0 No |
Answer / maqbool
A reserve is an also an amount set a side from out of
profit but the amount not for anticipated liability.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / anu
an appropriation of profits to meet unknown events in the future
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / salma
There are same debts which are likely to fall under bad
debts but we cannot say now that they are bad debts
there fore a provision is made for anticipate bad debts
from current year profit
| Is This Answer Correct ? | 0 Yes | 3 No |
What will be the entry for transfer of fixed deposit amount to their current a/c. (ie. if we hav a FD of Rs.600000 with the bank, we need to close the FD and transfer the amount to the current Account. kindly provide me the entry for this.
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