How the secret reserve is created? – InterviewSolution

1.

How the secret reserve is created?

Answer»

Secret reserve can be created as follows :

By undervaluing closing stock.
By showing more contingencies than required, e.g., provision for bad debt.
By showing contingent liability as actual liability.
By making more provision for depreciation.
By recording capital expenditure in Profit and Loss Account.
By showing more expenses than actual.

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