Question

general reserve in which type account debit or credit

Answer 1

Explanation:

This amount becomes payable at some point of time and hence is a Liability. Technically, the General Reserve Account has a credit balance and all credit entries resulting in final credit balance create liability in the Balance Sheet.

Answer 2

Answer:

This amount becomes payable at some point of time and hence is a Liability. Technically, the General Reserve Account has a credit balance and all credit entries resulting in final credit balance create liability in the Balance Sheet.