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what is the difference between reserves & provisions and
accumulated reserves & surplus
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Answer Posted / madhulika2011
Difference between Reserves & Provisions.....
Reserve is to strengthen the financial position and to meet future unknown losses and liabilities.
Provision is to meet known losses and liabilities the amount of which is not certain.
Difference between Accumulated Reserves & Surplus......
Accumulated reserves which a company has put aside over a period of years.
Surplus is when there is an excess supply of a product. Prices are driven down by surpluses.
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