Difference between provision & reserve with an example?

Answer Posted / raj kumar

we make proviions for future uncertain circumtances and
make reserve for certain circumtances.

Is This Answer Correct ?    14 Yes 6 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what are accounting principles

1563


If we got a printing jon we are adverstising firm for that we purchase paper from local dealer which contain vat 4% now when i bill to the person from whom i got a priniting job what should i consider this as service or sale and what tax i charge, i don't have vat no. but i have service tax no.?

1428


What doyou mean by assesment order? and for what purpose it will be passed?

1591


Please tell me the rate of service tax of Transportation and the who is liable to deposit the Service Tax, the receiver of service or provider the service

1759


Hello! My annual salary is @ Rs.6,00,000/-. What would be the TDS applicable for me per annum/per month. I am also contributing to EPF @ Rs.9360/-.

1744






What qualification require for become a tax consultant ? what the future in this..???

2285


certificate of export is for which items?

1498


What will be the planned expenditure in the budget 2009-10

1907


what is the Difference between Compound Sales and Deemed Sales?

1678


At what point excise duty is accrued

1018


how to modify 12% to 13.5% in tallyerp9 release 1.6

1765


we charge service tax in our Invoice.we pay it in time. At the end of the year other party gives his deduction as certificate. what to do with it ? how to submit again to tax authorities?

1450


WE purchase Firewell for our office Rs.26500/- the vendor charge 5% vat on 26500=1325 and S.Tax 14.5% on 26500/- =3843 is it is possible please clarify

1326


what is the significance of business taxation in private company?

1726


How do you determine as to what TDS has to be deducted from each vendor supplying us the goods and doing labour work?

1630