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P2 C3 Provisions and Reserves — Account STD 11 Commerce — Question

Gujarat BoardEnglish MediumSTD 11 CommerceAccountP2 C3 Provisions and Reserves1 Mark
MCQ
Which type of reserve is created by undervaluing closing stock?
  • A
    Revenue reserve
  • B
    Capital reserve
  • C
    Specific reserve
  • ✓
    Secret reserve
✓

Answer

Correct option: D.
Secret reserve

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