In which of the following ways can a 'reserve' be established in the balance sheet?
I.$\quad$ By a decision of management to transfer an amount from retained profits
II.$\quad$ By agreement in a debt contract
III.$\quad$By the provision of an accounting standard

Question

Quizplus · Accepted Answer

Reserves can be established through a decision by management to allocate profits, agreements in debt contracts that may require setting aside funds, and provisions in accounting standards that mandate certain reserves for specific purposes.

In Which of the Following Ways Can a 'Reserve' Be \quad

In Which of the Following Ways Can a 'Reserve' Be $\quad$