The term 'Secret Reserves' are created by: MCQ with Answer and Explanation

Explanation:
Gratuity is a defined benefit plan as the employer's obligation is to provide a specific amount.

Explanation:
Under Section 36 of the Indian Partnership Act, an expelled partner remains liable to third parties for acts of the firm up to the date of his expulsion, until a public notice of his expulsion is given.

Explanation:
Unpresented cheque has been deducted in cash book but not in passbook. So passbook balance = Cash book balance + Unpresented cheque = 10,000 + 2,000 = ₹12,000.