Under IFRS a Company May Use the Term "Reserve" to Include

question 105

True/False

Under IFRS a company may use the term "reserve" to include items such as retained earnings, share premium, and accumulated other comprehensive income.

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Definitions:

Annual Profit

The amount of money a business earns in one year after all expenses have been deducted from its total revenue.

Investment

Allocating monetary assets with the aim of achieving returns or generating revenue.

Property Taxes

Taxes levied by local government on real estate properties, based on the assessed value of the property.

Vendor

A person or company offering something for sale, especially a trader in the goods or services sector.