Management Accounting Test Questions

Q.  The opening and closing balance of general reserves are Rs 10,000 and Rs 9,000, respectively. It is stated in addition information that a loss of Rs 1000 has been written off in general reserves. In such a case, decline in reserve and loss on investment will be adjusted in P&L account.

a. True
b. False

ANSWER: See Answer
No explanation is available for this question!