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1. What are the reserves that a limited company can possibly have? For what purposes they can be used? (8 marks) 2. Explain the difference

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1. What are the reserves that a limited company can possibly have? For what purposes they can be used? (8 marks) 2. Explain the difference between bad debts and doubtful debts. What is the purpose of provision for bad debts? (7 marks)

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