Multiple Choice
These are the reserves created only to strengthen the financial position or the business and to keep the funds available for any future contingency or expenditure that may be required:
A) Specific Reserves
B) General Reserves
C) Capital Reserves
D) none
Correct Answer:

Verified
Correct Answer:
Verified
Q2: Share Application account is a<br>A)Real Account<br>B)Nominal Account<br>C)Mixed
Q3: Debenture holders are the:<br>A)Owners<br>B)Creditors<br>C)Directors<br>D)Suppliers
Q4: In this method depreciation is charged on
Q5: Depreciation is the process of:<br>A)Apportionment of the
Q6: These reserves are created out of capital
Q8: Reduction in the book value of an
Q9: Debentures issued as Collateral Security for Rs.
Q10: Depletion applies to_<br>A)Current assets.<br>B)Wasting assets<br>C)Intangible assets<br>D)Fixed assets
Q11: Securities Premium Account is shown on the
Q12: A company is a person created by<br>A)Human