Which of the Following Statements Is True Regarding Equity Reserves

question 1

Multiple Choice

Which of the following statements is true regarding equity reserves?

• A) Under U.S.GAAP,Other Comprehensive Income represents an equity reserve.
• B) Under U.S.GAAP,the allowance for doubtful accounts is considered an equity reserve.
• C) Under U.S.GAAP,appropriations of retained earnings are considered an equity reserve.
• D) Under U.S.GAAP,equity reserves are not currently allowed.

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