Show me right definitions of reserve and surplus and what is role his in balance sheet.
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Show me right definitions of reserve and surplus and what is role his in balance sheet.
Reserves are amounts kept in the company and not distributed to owners.
Surplus is the amount left after payments are made from receipts.
A Balance Sheet is a snapshot in time of the business Assets and Liabilities, of which, Reserves and Surplus would be considered Assets.
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