Which of the following is an example of Specific Reserve?
a) Premium on issue of shares
b) Dividend Equalisation Reserve
c) Profit prior to incorporation
d) Profit on redemption of debentures
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Answer:
b) Dividend Equalisation Reserve
Explanation:
Examples of Specific Reserve
Dividend Equalization Reserve. Investment Fluctuation Reserve. Debenture Redemption Reserve. Plant and Machinery Replacement such as Sinking Fund Reserve or Depreciation Fund Reserve.
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