Query on basic accounting
This query is : Resolved
pavankumar
(Querist)
15 June 2013
“Reserve ” may be defined as a portion of earnings receipts or other surplus of an enterprise appropriated by the management for a general or specific purpose”.
In the context of above statement:
Q1) whether above definition talks only about General reserve and Revenue reserve. What about Capital reserve and revenue reserve.? Please guide me.
In the context of above statement:
Q1) whether above definition talks only about General reserve and Revenue reserve. What about Capital reserve and revenue reserve.? Please guide me.
16 June 2013
1.Capital reserve is used to meet capital losses.
2.Revenue reserve may be used to day-day business activities.
2.Revenue reserve may be used to day-day business activities.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Due date for filing return for the partner in partnership subjected to Tax Audit
- GST on reimbursement of expenses
- Visiting card purchase
- Query on effect of registration of property
- Additional trade name
- Goodwill transfer of deceased father’s firm – ICAI applying a 27.04.2026 cut-off to the 3 year limit
- Equity Share Sale and Purchase
- Number of years as per AS amortisation of Goodwill
- Wrong CMPo8 file
- Whether output tax is taken credit by purchaser
- Foriegn assets disclosure
- Classification of income of P Ltd company as business or profession
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- "Please ensure that the Total of the Deductions u/s 54F match the same in Table D in Sch CG"
- Need to correct "Whether it is last installment " response in Form 26 QB
- " Income from House Property " in joint names of co-owners
- REGARDING TDS RETURN OF FORM 27Q
- Notice under e-Verification Scheme
- GST demand notice for ITC reversal against exempted supply.
- RCM ON SECURITY CHARGES FROM INDIVIDUALS
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
