The term reserves is used under IFRS with reference to all of the following except:(a) gains and losses on revaluation of property, plant, and equipment.(b) capital received in excess of the par value of issued shares.(c) retained earnings.(d) fair value differences

The term reserves is used under IFRS with reference to all of the following except:(a) gains and losses on revaluation of property, plant, and equipment.(b) capital received in excess of the par value of issued shares.(c) retained earnings.(d) fair value differences

College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter20: Corporations: Organization And Capital Stock

Section: Chapter Questions

Problem 8RQ

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Question

The term reserves is used under IFRS with reference to all of the following except:
(a) gains and losses on revaluation of property, plant, and equipment.
(b) capital received in excess of the par value of issued shares.
(c) retained earnings.
(d) fair value differences

Definition Definition Remaining net income of the company after the required dividends are paid to shareholders. This surplus money is usually invested back into the business to expand its business operations or launch a new product.

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