MyQuestionIcon

1

You visited us 1 times! Enjoying our articles? Unlock Full Access!

Recording Reserves

A reserve is ...

Question

A reserve is part of _____ that have been appropriated for a particular purpose.

A

Bad debts

No worries! We‘ve got your back. Try BYJU‘S free classes today!

B

Profits

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

C

Taxation

No worries! We‘ve got your back. Try BYJU‘S free classes today!

D

Assets

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is B
Profits

A reserve is part of profits that have been appropriated for a particular purpose.

Suggest Corrections

thumbs-up

0

Similar questions

Q. In the trial balance are shown Debtors Rs. 2400, Bad Debts Rs 221, Bad Debts Reserve Rs 324. For creating a Reserve for Doubtful Debts @

10 %

on debtors, the P & L A/c will be debited by :

Q. The Reserve which is credited for a particular purpose and which is a charge against revenue is called___________.

Q. Which of the following entry will be passed in the books of Consignor for recording bad debts if del-credere is allowed to Consignee?

A. Bad Debts A/c To Consignment Debtors A/c	Dr.
B. Bad Debts A/c To Profit & Loss A/c	Dr.
C. Bad Debts A/c To Consignee A/c	Dr.
D. No entry is required to be passed

Q. Reserve for doubtful debts is created when recovery of bad debts is _________.

Q. Reserve for Bad Debts is created in accordance with ____________.

View More

Join BYJU'S Learning Program

similar_icon

Related Videos

lock

Provisions and Reserves

ACCOUNTANCY

Watch in App

explore_more_icon

Explore more

Recording Reserves

Standard XI Accountancy

Join BYJU'S Learning Program

CrossIcon