StarShines
(Student CA Final )
(35 Points)
Replied 02 September 2012
| Originally posted by : Anjali | ||
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Hii, Reserve Capital is the fixed liability of the concern? |
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Hi Anjali !
The quick answer is "NO". Reserves are categorized as "Capital Reserves" such as Share Premium Account and "Revenue Reserves" such as Retained Earnings.
Fixed liabilities are those liabilities, which are payable in more than one accounting period such as a 3-year long-term loan. These liabilities are also called Non-Current Liabilities.
Hope that helps.
Profound Regards,
StarShines
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