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Kiera Lakin
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What is difference between legal and statutory reserves?
Answer: legal and statutory reserves There is no difference. Both legal and statutory reserves are reserves that must be maintained by law. The previous answer ("Legal reserves are stipulated by law, while statutory reserves are determined in the Articles of Association (the Statute of a company)") is incorrect: the primary meaning of 'statutes' is 'enacted laws'
What does a bank need to be able to make additional loans to customers?
Legal reserves
Is it legal to assess to rebuild reserves in a condo association?
Yes, it is legal to assess monies for reserves; a special assessment may be required.You can read your state condominium law covering reserve accounts, and then read your governing documents concerning assessments and special assessments.Apparently, your association had reserves funded at some level, then either spent the reserve dollars for their intended purpose, or borrowed from the reserves fund.When reserves are spent for their intended purpose, the level of annual funding anticipates the useful life of the assets being saved for. For example: when the assets' replacement exceeds the amount of funding available, the next year's assessments will probably show an increase in reserve funding, so that the next component to be replaced can be fully funded.When the board borrows against reserves, usually a repayment plan and schedule are required by state law, so that reserves are maintained at appropriate levels.It's impossible to tell from your question how the reserves were spent.You are owed an explanation from your board so that you understand the assessment being levied against your unit.
What are the estimated reserves?
Not sure if this is a math/ statistics question. Reserves are assets you hold, but are not using immediately. There are oil reserves, mineral reserves (like gold reserves) and cash reserves. I think you need to rephrase the question for a proper answer.
How are proved reserves and potential reserves used to estimate the remaining amount of fossil fuels?
Proven reserves are reserves we know about, potential reserves are those we suspect are present in certain geological formations. The combination of the two along with the estimated size of these reserves gives us the estimated total reserves.
What are proven reserves?
What are proven-in-place reserves
Is there more known coal reserves in Illinois than oil reserves?
more oil reserves
Is it legal if a customer reserves an item in a shop one day and on collection the following day the price has been increased?
well i dunno about legal but it ain't fair and i think th shopkeepers just trying to get money!! hope it helps!
Whether revaluation reserves can be transferred to general reserves?
No
How many reserves in a football team?
21 reserves
Do i lose your job if you join the army reserves?
No, joining the Army Reserves does not automatically mean you will lose your job. However, there are certain legal protections in place for reservists when it comes to employment. Employers are generally required to offer job protection and re-employment rights if you are called to active duty.
When was Necaxa Reserves created?
Necaxa Reserves was created in 2010.
