15.Secret Reserve is shown in:
1 point
O (A) Profit and Loss Account
O
(B) Balance Sheet on the assets
side
O
(C) Balance Sheet on the liabilities
side
O (D) None of the above
Answers
Answer:
d none of these is I think correct answer
Answer:
O (D) None of the above is the correct option
Explanation:
The term "secret reserve" refers to a reserve that is kept in place to bolster the company's financial situation but is not recorded in the books. Private reserves are private reserves that the balance statement does not make public. The internal reserve is another name for a private reserve. It is produced by displaying a lower-than-real net profit figure.
The phrase "reserve" refers to keeping a clean record on the balance sheet so that an organisation can assess whether it will succeed or fail. Instead of contributing money for various objectives, it is typically utilised for saving money. Resources and cash are not subject to any legal limitations. Therefore a group is free to utilise them for its methods.
By not disclosing the accounts or monitoring the records in the offset covering, a company chooses to use "unknown reserves" to advance up the economic ladder of an industry. The net gain values that the concealed reserve generates are less than the initial net price. The expenses of the resources in the equilibrium sheet are not managed, the current resources are depreciated, and the current accounts are overstated, which results in the formation of the hidden reserve.
A reserve value is a personal value if it is not disclosed in the balance sheet or hidden in the accounting book.
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