Which Statement Relating to Reserves Is Not True

question 34

Multiple Choice

Which statement relating to reserves is not true?

• A) They represent items of equity other than share capital.
• B) They represent cash set aside to be drawn on in hard times.
• C) Retained earnings is a type of reserve account.
• D) When a non-current asset is revalued upwards a revaluation reserve is created.

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Definitions:

Required Field

A field in a form or database that must be filled out or selected.

User

An individual who utilizes software, devices, or systems, interacting with them to perform tasks.

Make-Table Query

A query in database software that creates a new table from data selected according to specific criteria.

New Table

In database management systems, this refers to the creation of a fresh table structure designed to hold data, defined by columns and rows.