Question

Reserve is created to meet :

(a) Unforeseen Assets (b) Unforeseen Liability

(c) Known Liabilities (d) None of these.​

Answer 1

Answer:

Unforeseen Assets ......

Explanation:

A general reserve is created out of the current year's profit without any specific purpose or objective. They are created to strengthen the company and to meet the liabilities that might arise contingent or not. ... They are created to meet any liability known or unknown