what are the similarities between provision and reserve?
- 6 Answers
- 13458 Views
- I also Faced
- E-Mail Answers
Answer Posted / bhagya
Provision
we are creating provision for expenses which are going to
occur in future we do not konw the exact future expenses
Reserve
out of profit some protion of allotted as a reserve balance
are distribute as a dividend to shareholders
this reserve use for future business investment
Similarities between provision & reserve we are allocating
some amount ie., unknown amount (Unknown exp., or unknown
purpose of reserve creating (fe.,)we do not know the
investment amount
| Is This Answer Correct ? | 5 Yes | 3 No |
Post New Answer View All Answers
what is the relationship between bookkeeping and accounting?
A motor car purchased on 1 apr 10 worth rs 10000 taking a loan from bank of rs 8000. Emi will b 500 pm inclusive of interest rs 100 pm.all repayments are done by bank overdraft. Prepase bshEet & P&L as at 31 mar 10
Pl's confirm me this entry how to pass in Tally 9.0 & Tally ERP.9 that if I purchase 20 mobile,30 phone,20 LCD,15 laptop from mangesh @ Rs.7000,Rs.200,Rs.17000 and Rs.14000 respectively on each. But I purchase by cash and 15 days later I sold half of the thing to priya margin of Rs.100 on each by cheque and rest i sold to minal on cash margin of Rs.200 on each. But I received cash 1 month later. so calculate how much profit I got by selling the products.
Explain what is involved in the process of double-entry accounting?
Hai i have completed MBA in HR(major) And Marketing (minor). Now applying FInance if it possible please tell me
What is the definition of manual accounting?
Hi I would like to know what is journal entry for buying securities with Margin Trading I mean 50% of cost is paid by broker. 2nd question is when we withdraw extra money from the balance we have in bank account which means our balance become (-) what is journal entry for that, should I just credit the bank or should I put the extra money with-drawled as a liability account ? Thank you in advance!
What is debit and credit note?
what do you consider to be the biggest challenge facing the accounting profession today?
Define depreciation and its types?
What is the difference between cfa and csa?
explain me what steps would you take to increase revenue for this company?
what are the limitations of accounting ratios?
What are the various systems of accounting? Explain them.
What is use of statistics in accounting?
