What is the difference between Resrves and Surplus?
letz have an apples to apples comparision so that there is no bitter aftertaste.
my point is...
"reserves are planned amount whereas surplus are not"
plz post ur comments so that we could have a set of comparision!
Its simple. Reserves are appropriations from profit & Loss A/C. Appropriations are made to comply with statutory requirements or for a specific purpose. Surplus is what is left after making such appropriations.
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