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What's the difference between Reserve account and Reserve Fund Account?

Accounting
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Question added by Shahzad Ahmad , Head Credit Risk Management Division , SME Bank Limited
Date Posted: 2015/04/22
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TIMOTHY Ngungi
by TIMOTHY Ngungi , Compliance co-ordinator , Barclays Bank of Kenya

Reserve  account is An account set aside by an individual or business to meet any unexpected costs that may arise

Reserve fund account funds which has not been used on dividend payments and will be ploughed back to the business

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