EPFO APFC • General Studies • 2023 • Q.44
Accountancy & AuditingMedium
44. Which one of the following statements
is correct?
(a) Capital
reserves
are
normally
created out of free or distributable
profits.
(b) Dividend equalization reserve is an
example of general reserve.
(c)
General reserve can be used only
for some specific purposes.
{d) 'Provision' is a
charge against
profit.
Syllabus Connection
Principles of Accountancy: Accounting concepts & conventions, double-entry bookkeeping, journal, ledger, trial balance, depreciation, final accounts preparation (trading, P&L, balance sheet), company accounts & share capital, Accounting Standards (AS & Ind AS). (APFC)
Related PYQs in Accountancy & Auditing
2025•EPFO APFC•General Ability Test
Which one of the following is not the objective of verification in auditing ?
2025•EPFO APFC•General Ability Test
In the context of auditing, the primary objective of vouching is :
2025•EPFO APFC•General Ability Test
Which one of the following statements about audit documentation is mot correct ?
2025•EPFO APFC•General Ability Test
Which one of the following will be the adjustment journal entry if the rent received in advance is €2,000 ?
2025•EPFO APFC•General Ability Test
Which one of the following costs is generally not included in computing the cost of inventory ?