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No, a reserve and surplus are not considered current liabilities. Instead, they are part of shareholders' equity on a company's balance sheet. Reserves are typically funds set aside for specific purposes, while surplus refers to the retained earnings that exceed the initial capital contributed by shareholders. Current liabilities, on the other hand, are obligations the company expects to settle within one year.

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1mo ago

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Related Questions

Why is reserves and surplus a part of liabilities?

reserves and surplus are shown into liability side of the financial statiment, since reserve is the money set aside from the capital for future use hence defining surplus as a debit in the business thus attributing to its liabiltiness,


What is the difference between revaluation Surplus and revaluation Reserve?

Fundamentally, a revaluation surplus and a revaluation reserve is the same. A revaluation reserve is a revaluation surplus obtained from evaluation.


What are reserves and surplus in finance?

What is reserve & surplus in accounts


What is the entry for reserves and surplus?

entries for Reserve & surplus


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A reserve is a planned amount, a surplus is unplanned.


Is provision for taxation a current liabilities?

Basically it is a reserve however it should be carried as a liability on the books until paid then espense it however if the Co is for Sale You may show it as a reserve asset due to the fact that the full liability may never be incurred


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What is another words to excess or reserve?

surplus and cache


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Non-current liability, all provisions are non current.


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