Question

What are the items shown under the heading 'Reserves and Surplus'?

Options

• Capital reserves

• Capital redemption reserves

• Balance of securities premium account 

• All of the above

Answer 1

All of the above

Explanation:

This item includes various reserves such as capital reserves, capital redemption reserves, balance of securities premium account, general reserve, credit balance of profit and loss account, and other reserves, with each reserve's nature and amount specified, including additions during the current year.