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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'
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What is statutory and non statutory post?
legal and non legal
Can accumulated losses be set off against statutory reserves?
Accumulated losses generally cannot be directly set off against statutory reserves, as statutory reserves are typically required by law to be maintained for specific purposes, such as capital preservation or creditor protection. These reserves are usually meant to remain intact to ensure financial stability and compliance with regulatory requirements. However, in some jurisdictions, companies may be allowed to adjust reserves in certain circumstances, but this usually requires formal approval and adherence to legal provisions. It's essential to consult applicable laws and accounting standards for specific guidance.
What is the difference between statutory analysis and case law analysis?
Statutory analysis involves interpreting and applying laws and statutes created by legislatures. Case law analysis involves examining court decisions and past rulings to understand how legal principles have been applied in specific situations. The key difference is that statutory analysis focuses on legislative intent and written laws, while case law analysis looks at how legal principles have been interpreted and applied by courts.
What is legal reserves?
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Is there a difference between statutory law and blackletter law?
AnswerAccording to Black's Law Dictionary, blackletter lawrefers to one or more legal principles that are old, fundamental, and well settled. Many of those principles have been codified in statutory law. Although laws are sometimes stricken as unconstitutional, most statutory law is well settled so blackletter law could be used to refer to statutory law although it has a broader meaning than just statutory law.
What is statutory and nonstatutory employee welfare is difference between statutory and unstatutory?
Statutory employee welfare refers to benefits and protections mandated by law, such as minimum wage, overtime pay, social security, and workers' compensation. Nonstatutory employee welfare, on the other hand, includes benefits provided by employers voluntarily, such as health insurance, retirement plans, and wellness programs. The key difference lies in the legal requirement: statutory benefits are legally enforced, while nonstatutory benefits are discretionary and depend on the employer's policies.
What is the difference between legal and educational definitions for hearing impaired?
What is the difference between legal and educational definitions for hearing and visual impaired.
What is the difference between Compliance and legal?
The difference between compliance and legal is that compliance means you obey by the rules of your company, you do what you are told to do. Legal means you abide by the laws of the state.
What is the difference between equitable title and legal title?
distinction between legal and equitable title
What is the difference between statutory audit and non -statutory audit?
Statutory audits are reviews of a business or governments financial records as required by law. Non-statutory are audits not required by legal statute but needed because of some other reason. A non-statutory might be needed if some issue is brought to light such as an irregularity in the way business is being done or perhaps in the case where some type of intentional actions such as an incompetent accountant or even embezzlement was discovered, to find out the extent of the issue.
What are the Differences between legal writing and statutory writing?
legal writing is type of technical writing used by lawyers, judges, legislatives and others in law to express legal analysis and legal rights and duties while legal drafting is the creation of legal documents.
What is the difference between will and shall in legal bylaws?
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