Reserves are the items of : A current liabilities B o w n e r s ’ e qu it y C none of these Reserves

Reserves are the items of :

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A current liabilities

B    owners’ equity

C none of these

 

Reserves arise from capital receipts are known as :

A capital reserve

B    reserve fund

C none of these

 

Provisions are :

A external transactions

B internal transactions

C none of these.

 

Reserves that are created are mostly :

A.    general

B.    specific

C.    none of these

 

Goods are sold on credit to —-

A.    known customers

B.    unknown customers

C.    employees