Write a short note on reserve

1.	Write a short note on reserve
Answer» Answer: Reserves:- A reserve is profits that have been APPROPRIATED for a PARTICULAR purpose. Reserves are sometimes set up to purchase fixed assets, pay an EXPECTED legal settlement, pay bonuses, pay off debt, pay for repairs and maintenance, and so FORTH. ... It is an appropriation of profits and not charged on the profits.

Answer»

Answer:

Reserves:-

A reserve is profits that have been APPROPRIATED for a PARTICULAR purpose. Reserves are sometimes set up to purchase fixed assets, pay an EXPECTED legal settlement, pay bonuses, pay off debt, pay for repairs and maintenance, and so FORTH. ... It is an appropriation of profits and not charged on the profits.

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Write a short note on reserve