28
30
18
15
Answer is Right!
Answer is Wrong!
The correct answer is A. 28.
Reserve group accounts in Tally are used to store information about the company’s reserves. Reserves are funds that are set aside for a specific purpose, such as to meet future obligations or to provide a cushion against unexpected losses.
The following are the 28 reserve group accounts in Tally:
- Capital Reserve
- General Reserve
- Profit and Loss Account Reserve
- Share Premium Account
- Debenture Redemption Reserve
- Investment Fluctuation Reserve
- Workmen Compensation Reserve
- Employees Provident Fund Reserve
- Employees State Insurance Fund Reserve
- Gratuity Reserve
- Tax Reserve
- Sinking Fund
- Development Reserve
- Reserve for Contingencies
- Reserve for Bad and Doubtful Debts
- Reserve for Discount on Bonds
- Reserve for Discount on Debentures
- Reserve for Discount on Bills Payable
- Reserve for Discount on Bills Receivable
- Reserve for Discount on Acceptances
- Reserve for Discount on Remittances
- Reserve for Discount on Purchases
- Reserve for Discount on Sales
- Reserve for Discount on Advances
- Reserve for Discount on Loans
- Reserve for Discount on Investments
- Reserve for Exchange Fluctuations
- Reserve for Other Purposes
The following are the brief descriptions of each option:
- Option A: 28. This is the correct answer.
- Option B: 30. This is incorrect. There are only 28 reserve group accounts in Tally.
- Option C: 18. This is incorrect. There are only 28 reserve group accounts in Tally.
- Option D: 15. This is incorrect. There are only 28 reserve group accounts in Tally.