Difference between provision & reserve with an example?
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provision are those liabilites that are certain for a
period like that provision for TAX, Insurance, Provision
for salary etc.
Reserve that is made for some uncertain or certain future
incident like that Reserve for plant and machinery
Is This Answer Correct ? | 18 Yes | 5 No |
Answer / raj kumar
we make proviions for future uncertain circumtances and
make reserve for certain circumtances.
Is This Answer Correct ? | 14 Yes | 6 No |
Answer / venkata subbaiah
provision is income tax and out standing liabilities
Is This Answer Correct ? | 1 Yes | 9 No |
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