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Debenture Redemption Investment

A reserve is ...

Question

A reserve is charged against __________.

A

Trading Account

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B

Profit and Loss Account

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C

Profit and Loss Appropriate Account

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D

None of the Above

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Solution

The correct option is C Profit and Loss Appropriate Account
Charge to profit & loss appropriation would results in a debit to the profit & loss account and reduce the profit available for further distribution. Reserve mean the amount set aside from profit & loss account for an unknown liability or contingencies.

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