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When was the Reserve Fund created?
The Reserve Fund was created in 1971
When was Revenue Equalization Reserve Fund created?
Revenue Equalization Reserve Fund was created in 1956.
What was the Reserve Fund?
The Reserve Fund was the first money market mutual fund
What is the difference between general reserve and revenue reserve?
A reserve which is created out of the revenue profit is called revenue reserve. Revenue profit is earned in the normal course of the business. Revenue reserve refers to the undistributed revenue profit. It is created for strengthening the financial position, replacing deprecialble assets, redeeming liabilities, declaring uniform rate of dividend and conducting research and development functions. If the reserve is not needed in the future, it can be distributed as dividend to the shareholders.There are two types of revenue reserve:a) General ReserveA reserve which is created out of the profit not for a specific purpose is known as general reserve.General reserve is used for general purpose as per the discretion of the management. Usually, general reserve is used for strengthening the financial position and meeting future contingencies and losses.b) Specific ReserveA reserve which is created out of the profit for a particular purpose is known as specific reserve. Such reserve can not be utilized for any purpose other than specified. Specific reserve is created by debiting the profit and loss appropriation account. It can be invested in outside securities. It serves for a specific purpose as to equalize dividend or to redeem a fixed liability or to replace a fixed assets or to conduct a research and development work.The following are the important types of specific reserve:* Dividend equalization fund* Sinking fund* Research and development fund
What was the first money market mutual fund?
The first money market mutual fund (MMMF) was created in 1971 and called the Reserve Fund
When was the first money market mutual fund?
The first money market mutual fund (MMMF) was created in 1971 and called the Reserve Fund
When was State Oil Fund of Azerbaijan created?
State Oil Fund of Azerbaijan was created in 1999.
Was the Reserve Fund the first money market mutual fund?
The Reserve Fund was the first money market mutual fund
What year was the first money market mutual fund?
The first money market mutual fund (MMMF) was created in 1971 and called the Reserve Fund
What is the difference between capital reserve and reserve capital?
Capital reserve is a reserve created to deal with general, unspecified contingencies such as inflation. It is a fund set aside for the specific purpose and can not be distributed for other uses. Normally it is legally not distributable as dividends to shareholdersReserve Capital is the part of the Authorised capital which is not yet called up
Difference between general and specific reserves?
Capital Reserve:1.It is created out of the profit earned not in the normal course of business. For example, to a bookseller, profit on sale of books is a regular profit. But profit earned on sale of something other than books is capital profit.2.Capital employed in business is increased permanently.3.It is usually not available for the payment of dividends.4.Liability and loss of capital nature can only be met by it. General Reserve:1.It is created out of profit earned in the normal course of business.2.It increases capital employed temporarily.3.It is available for the payment of dividends.4.It is available for meeting any type of liability or loss.
Is there a state law requiring a reserve fund be established for major maintenance on condos?
Your answer depends on the state where the association is located.Several strategies surround reserve funds, which include:Establishing a fund, but not contributing to itMaintaining a fund with minimal amountsWithdrawing monies from the fund for other than major projects, and then not re-funding the borrowed amountAnd so forth. A proper reserve fund is based upon a current reserve study, and is funded so that no special assessments are planned in order to perform major maintenance, replacements and repairs and pay for them from reserves.Many savvy buyers review these details before purchasing units in condominuim associations, lenders review them before granting mortages and insurers review these items before writing master policies.Best practices dictate that reserve studies and reserve accounts be current, robust and sturdy enough to pass scrutiny.
