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Advance accounting CA

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(Querist)
12 June 2024 Why is capital redemption reserve treated as reserve and not provision though it is created for a known liability?
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Aashok Kumar Sharma online

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Aashok Kumar Sharma online (Expert)
14 June 2024 The capital redemption reserve is created for a known liability, its treatment as a reserve rather than a provision is justified by its specific purpose, source of funding, and accounting principles governing the classification of reserves and provisions in financial reporting.
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