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P2 C3 Provisions and Reserves — Account STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceAccountP2 C3 Provisions and Reserves1 Mark
MCQ
Which reserve is created for paying specific liability of business?
  • A
    General reserve
  • B
    Secret reserve
  • ✓
    Specific reserve
  • D
    Capital reserve
✓

Answer

Correct option: C.
Specific reserve

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