In Which of the Following Ways Can a 'Reserve' Be $\quad$

question 17

Multiple Choice

In which of the following ways can a 'reserve' be established in the balance sheet?
I. $\quad$ By a decision of management to transfer an amount from retained profits
II. $\quad$ By agreement in a debt contract
III. $\quad$ By the provision of an accounting standard

• A)I only
• B)I and III only
• C)II and III only
• D)I, II and III

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