What are the different type of bank accounts maintained in
tally
Answer / raja
SAVINGS BANK A/C FOR PROPRIETOR CONCERN AND
CURRENT ACCOUNT FOR BUSINESS PEOPLE THESE TWO ARE SHOWN IN
ASSETS SIDE
OD - CC A/C THESE ARE ALL SHOWN IN LIABILITIES SIDE
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WHAT IS THE DIFFERENCE BITWEEN RESERVE & PROVISION?
Contingent liabilities should be recorded in the accounts when A) It is probable that the future event will occur B) The amount of the liability can be reasonably estimated C) Both A&B D) Either A or B
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