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What else can I help you with?
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 "reserves the right" mean in terms of legal agreements or contracts?
"Reserves the right" in legal agreements or contracts means that one party has the authority to take a specific action or make a decision in the future, as outlined in the agreement.
What does a bank need to be able to make additional loans to customers?
Legal reserves
Can a company pay a dividend from the asset revaluation or realization reserves?
A company generally cannot pay dividends from asset revaluation reserves as these reserves are not considered distributable profits. Dividends must typically be paid from retained earnings or profits generated from the company's operations. Realization reserves, which arise from the sale of assets, can sometimes be distributed as dividends, but this depends on the specific legal and accounting regulations applicable in the company's jurisdiction. It's essential for companies to consult with legal and financial advisors to ensure compliance with relevant laws.
Scandal concerning oil reserves?
The scandal concerning oil reserves typically involves companies or governments misreporting or manipulating data on their oil reserves for financial gain or to mislead investors. This can shake public trust in the industry, impact stock prices, and lead to legal repercussions for those involved. It is crucial for regulators to closely monitor and enforce transparency in reporting oil reserves to maintain the integrity of the market.
What rights does the company reserves the right to exercise in the event of a breach of contract?
In the event of a breach of contract, the company reserves the right to take legal action and seek remedies such as compensation, termination of the contract, or other actions specified in the contract terms.
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.
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 proven reserves?
What are proven-in-place reserves
Is there more known coal reserves in Illinois than oil reserves?
No, there are more known oil reserves in Illinois than coal reserves. Illinois has significant crude oil reserves, particularly in the southern part of the state, while its coal reserves have decreased due to mining activities.
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
