A) I have seen general reserves as an mcq option. Can you explain how they differ from retained earnings?
B) Another question: Is the term "accumulated profits" same as retained earnings? Just wanted to be sure.
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How are general reserves different from retained earnings?
3y ago#1A They are a separate reserve created by a transfer from retained earnings.
B Yes - they mean the same.
Have you not watched our free lectures on this because both questions are dealt with in the lectures? The lectures are a complete free course for Paper FA and cover everything needed to be able to pass the exam well :-)
Thank you, Sir.
Yes, I have watched all the lectures on limited companies. They are exceptional.
3y ago#3You are welcome (and thank you for your comment :-) )
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