Query on basic accounting
This query is : Resolved
15 June 2013
“Reserve ” may be defined as a portion of earnings receipts or other surplus of an enterprise appropriated by the management for a general or specific purpose”.
In the context of above statement:
Q1) whether above definition talks only about General reserve and Revenue reserve. What about Capital reserve and revenue reserve.? Please guide me.
In the context of above statement:
Q1) whether above definition talks only about General reserve and Revenue reserve. What about Capital reserve and revenue reserve.? Please guide me.
16 June 2013
1.Capital reserve is used to meet capital losses.
2.Revenue reserve may be used to day-day business activities.
2.Revenue reserve may be used to day-day business activities.
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