DIFFERNCE BETWEEN RESERVE AND FUND?
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reserve-
is an amount put separate as reserve from general profits
every year for future problems.
fund-
it is also amount, put for specific purpose only.examples
for bad debts provision, depreciation fund, sinking fund
like that etc.
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Answer / vikas gupta
Reserve: It is the sum of amount that is created out of
profits gained from the current year for the UNKNOWN NATURE
of losses e.g. Reserve & Surplus.
Fund: It is the sum of amount that is created for the KNOWN
NATURE of losses e.g. provision for bad and doubtful debts,
depreciation fund etc.
| Is This Answer Correct ? | 4 Yes | 0 No |
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