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in Accounts we are using provisions ? what is provisions?

Question Posted / venkateshpentam


in Accounts we are using provisions ? what is provisions?..

Answer / prasant m

We have done some expenses but invoice or bill not yet
received but expenses related to current month for that we
passed an entry against those expenses with approximate
value or previous comparison value ,it is an activity
perform end of the month we say month end closing activities.

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