Question

secret reserve is permitted to which companies​

Answer 1

Secret reserve is permitted to which companies

Ans: As per the provisions of the Companies Act a joint stock company is prohibited to create secret reserves but in the case of financial companies like the banking companies, insurance companies, and electricity supply companies have the provisions to create secret reserve.


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Answer 2

Answer:

see below

Explanation:

As per the provisions of the Companies Act a joint stock company is prohibited to create secret reserves but in the case of financial companies like the banking companies, insurance companies, and electricity supply companies have the provisions to create secret reserve.