Which of the following statements regarding reserves is not true?
A) reserves can be created by transferring retained earnings
B) reserves can be created by certain requirements in the accounting standards
C) reserves can be created by certain requirements of the Corporations Act
D) reserves reflect amounts of cash available for special purposes
Correct Answer:
Verified
Q32: Assets and liabilities are listed in the
Q33: Accumulated depreciation on a liability is:
A)the amount
Q34: Which of the following would
Q35: The distinction between current and non-current liabilities
Q36: The effect on the balance sheet of
Q38: The statement regarding accumulated depreciation that is
Q39: The statement concerning goodwill that is not
Q40: The statement concerning asset valuation is that
Q41: Collection of an accounts receivable will:
A)increase the
Q42: The elements of the balance sheet i.e.assets,liabilities
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents