Challenger App

No.1 PSC Learning App

1M+ Downloads
Profit prior to incorporation is an example of:

ARevenue reserve

BCapital reserve

CSecret reserve

DGeneral reserve

Answer:

B. Capital reserve

Read Explanation:

.


Related Questions:

A business unit is assumed to have an indefinite life comes under ---.
In accounting, Stock refers to:
The asset bought for long term use in the business are termed as ----- asset.
Decrease in the value of intangible asset is termed as ----.
Credit sales to Mohan Rs. 10,000 were posted to his account as Rs. 12,000 this is an error of ---.