Corporate Accounting MCQ: When the proposed dividend is more than 20 %, an amount equal to ‐‐‐‐‐‐‐‐‐‐‐ of the current profits must be transferred to reserve.

When the proposed dividend is more than 20 %, an amount equal to ‐‐‐‐‐‐‐‐‐‐‐ of the current profits must be transferred to reserve.

Correct Answer: 10%

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