is contingency reserve distributed among the partners in admission ?
Yes ..... c.r is distributed between the partners in their old ratio .
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All reserves are shared between all the partners.
The appropriation of the retained or surplus earnings which must or must not be funded indicated the reservation against any specific or any general contingency.
Two types of risks are there i.e. identified and unidentified risk.
Contingency reserve generally used to handle these kinds of risks.
The appropriation of the retained or surplus earnings which must or must not be funded indicated the reservation against any specific or any general contingency.
Two types of risks are there i.e. identified and unidentified risk.
Contingency reserve generally used to handle these kinds of risks.
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Yes,?Contingency Reserves?are those?reserves?which is created for contigent liabilities I.e. those liabilities which may occur or may not occur. Since old?partners?maintained this?reserves?so it will be?distributed?in old?partners?in old ratio. All?reserves?are shared between all the?partners.
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Yes,.... contingency reserves are those reserves which is created for contingent liabilities (i.e those liabilities which are may occur or may not occur). As all partners are maintained this reserve, so it will be distributed among the old partners in the old ratio. Even all reserves are shared between the all partners...
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