A reserve is created but its identity is merged with some other account or group of accounts so that the existence of the reserve is not known:
A) Capital reserves
B) Secret Reserves
C) Undisclosed Reserves
D) none
Correct Answer:
Verified
Q8: AS 6 revised is an accounting standard
Q9: These reserves are created out of revenue
Q10: These are the reserves created only to
Q11: These reserves are created out of capital
Q12: These reserves are not shown in the
Q14: The value of asset can be reduced
Q15: Provision for depreciation account appears on the
Q16: If the asset is sold, the provision
Q17: Depreciation is charged on_
A)Continuous basis
B)Temporary basis
C)Daily basis
D)Monthly
Q18: Loss of usefulness occasioned by improved production
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