differnce between
1) Specific reserve and General reserve.
2)Bills of exchange and promissory note.
3) Error of commission

Asked by sntshtrk530 | 11th Dec, 2017, 08:38: PM

Expert Answer:

Difference between specific reserve and general reserve
The amount whicjh is not maintained for any specific purpose out of profit and it is used for any future contingency is known as general reserve.
On the other hand, the amount which is maintained for specific purpose out of profit is known as specific purpose.
 
Kindly post the remianing questions as individual query.

Answered by Tharageswari S | 12th Dec, 2017, 10:25: AM

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