Table of Contents
What Is The Difference Between A Resource And A Reserve?
A resource is that amount of a geologic commodity that exists in both discovered and undiscovered deposits—by definition then a “best guess.” Reserves are that subgroup of a resource that have been discovered have a known size and can be extracted at a profit.
What is the difference between a resource and a reserve quizlet?
What is the difference between a resource and a reserve? A resource refers to any mineral concentration that has the potential to be extracted and sold for a profit while a reserve actually has been identified and is economical.
What is meant by resource and reserve?
“Resources” means using your money “reserves” means using my money. Differences can be enormous. Government agencies and academic scientists tend to estimate resources whereas industrial/oil companies appraise only reserves.
Are all reserves resources?
All reserves are part of the total occurrence not all occurrences of resources are known reserves that can be mined—or economically feasible. … The bottom left corner (conditional resources) represents resources that aren’t economically feasible to extract but are known to exist to a fairly high certainty.
What is the difference between oil reserves and resources?
What are the examples of reserve resources?
The resources which are available and accessible but arent yet being used properly and are conserved and used judiciously for the future are called reserve resources. Examples are river water can be used to generate hydroelectric power but till now their use has been limited.
How does a resource become reserve?
Answer: The resource become a reserve due to the change in its utility and value. It is because the ultimate use of a mineral reserve is either to be physically worked out or made non-viable because of the changing economic environmental technological and social circumstances.
What are resources example?
Resources are anything that has utility and adds value to your life. Air water food plants animals minerals metals and everything else that exists in nature and has utility to mankind is a ‘Resource’. … However mountains rivers sea or forests are also resources but they do not have economic value.
What does we reserve mean?
to keep the right to do something if you later think it is necessary. We reserve the right to alter this timetable.
What are the 3 types of reserves?
Reserves in accounting are of 3 types – revenue reserve capital reserve and specific reserve.
What are stock resources?
Stock resources are resources that can be enduringly expended and are therefore non-renewable. Their quantity is usually expressed in absolute amounts rather than in rates. Examples are coal and petroleum deposits.
What does reserves mean in geography?
Thus reserves are resources that are available under current market conditions (cost and technology). A significant amount of resources could be known to be present. … Under such circumstances new resources such as tar sands can become available and thus be considered as reserves.
Why are the resources important?
Resources are important for us as we utilise them to satisfy our wants. Many minerals like iron copper mica etc. are used in industries for manufacturing various goods. Minerals like coal are used for the generation of electricity.
Are reserves bigger than resources?
Friendlier but longer version: Experts in the field generally separate fossil-fuel “reserves” from “resources” (and they have additional technical terms that subdivide these big types). … The resource is likely much bigger.
What is the main difference between energy reserves and energy resources?
Reserves include only recoverable energy. “Resources” represent that portion of the energy that is known to exist or even suspected to exist irrespective of technical or economic viability. So reserves are a subset of resources.
What are examples of oil reserves?
What is reserve resources short answer?
Reserved resources are the resources that are defined and their present amount is recognized but since they are reserved for the future they are not being used. As a consequence of scientific understanding these resources may be used but not yet completely implemented.
What is reserve example?
Specific reserves on the other hand are created keeping a specific reason in mind and can only be used for its designated purpose. Examples of such reserves include Dividend Equalization Reserve Debenture Redemption Reserves Contingency Reserves Capital Redemption Reserves and more.
What are reserves Short answer?
A reserve is a retained earnings secured by a company to strengthen a company’s financial position clear debt & credits buy fixed assets company expansion legal requirements investment and other plans. These are usually done to save the cash from being used in other purposes.
What is resources in geography?
What are stock and reserves?
Stock is the resources for which presently we don’t have any technology to extract them. Reserve resources are those which we are not extracting at present in spite of technological availability.
Is money a resource?
No money is not an economic resource. Money cannot be used by itself to produce anything as it is a medium of exchange for economic resources.
Is water a resource?
In most parts of the world water is a scarce resource. … Almost all of the fresh water that is available for human use is either contained in soil and rock below the surface called groundwater or in rivers and lakes. U.S. Geological Survey. In most areas of the United States there is enough fresh water for human use.
What are the 5 types of resources?
- Natural resources.
- Human resources.
- Environmental resources.
- Mineral resources.
- Water resources.
- Vegetation resources.
How do you use the word reserve?
- You can reserve seats over the telephone.
- You must reserve your strength for the tennis final.
- Reserve your strength for the climb.sentencedict.com.
- They capitalized the company’s reserve funds.
- We’ll reserve the ticket for you till tomorrow noon.
What is reserve in geography class 10?
they are those type of resources which are not utilised now and they will be used for the future needs for our country and can be utilised by the future generation.
What is the meaning of reserves in accounting?
Reserve accounting definition
Reserves are profits that have been appropriated or set aside to be used for a specific purpose further down the line. … Reserve accounting stops these funds from being used for other purposes such as paying dividends or buying back shares.
Is reserve an asset or liability?
Balance sheet reserves are liabilities that appear on the balance sheet. The reserves are funds set aside to pay future obligations. The balance sheet reserves of insurance companies are regulated so that these companies have sufficient reserves to pay client claims.
What is a legal reserve?
Definition of legal reserve
: the minimum amount of bank deposits or life insurance company assets required by law to be kept as reserves.
What is a specific reserve?
Specific reserves in accounting refers to the reserves that are created for a specific purpose in business. These reserves cannot be used for any other purpose apart from the purpose for which they were created. … Specific reserves can be established by debiting the Profit and Loss Appropriation Account.
What are the 4 types of stocks?
- Growth stocks. These are the shares you buy for capital growth rather than dividends. …
- Dividend aka yield stocks. …
- New issues. …
- Defensive stocks. …
- Strategy or Stock Picking?
What makes an object a resource?
Utility or usability is what makes an object or substance a resource. … Some resources have economic value some do not.
What is stock What are reserves give two examples of it?
The example of stock is water as it consists of Oxygen and Hydrogen. They are inflammable and an individual does not need any technology to extract the amount of energy from it. Reserve resources- In such type of resources we use technology in order to extract the resources but they are not extracted at present.
What is the difference between potential resource and actual resource?
Actual Resources: Actual resources are the resources where quantity is known which are being used in the present. … Potential Resources: The resources that are present in a specific region and can be used in the future are classified as potential resources.
What is the difference between a Resource vs Reserve? Mining 101: Ep 11
Resources vs Reserves – Vlog 702
Easy-to-Understand Explanation of Mineral Resources & Reserves for Mining Stock Investors
