If you found a Reserve for Retirement Allowances (for employees) on the equity side of a balance

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If you found a “Reserve for Retirement Allowances” (for employees) on the equity side of a balance sheet, what would you think was the nature of the account?

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An Introduction To Accounting And Managerial Finance A Merger Of Equals

ISBN: 9789814273824

1st Edition

Authors: Harold JR Bierman

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Question Posted: Dec 11, 2023 01:01 PM

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If you found a Reserve for Retirement Allowances (for employees) on the equity side of a balance

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The Reserve for Retirement Allowances account is typically a liability account not an equity account This is because it represents a future obligation ...View the full answer

An Introduction To Accounting And Managerial Finance A Merger Of Equals

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