Question
Amalgamation adjustment account is used for recording:
The correct answer is
Statutory Reserve in the books of the transferee company
Under the purchase method in AS 14, a statutory reserve that must retain its identity is credited in the transferee’s books with a corresponding debit to the amalgamation adjustment account. It is not used to preserve every revenue or general reserve.
Was this answer helpful?
Important Questions from Miscellaneous
Which gas shields the surface of the earth from ultraviolet radiation from the sun?
Which event is marked as an Intangible Cultural Heritage of Humanity by UNESCO?
Who has been conferred with the rank of the Commander of the Order of the British Empire in 2018?
Who directead the film ‘Bhuvan Shome’?
The book “In my mother’s house” is written by _______
Need Expert Advice?
