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WHAT IS MEANING OF PROVISION
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Answer / govinda_mahato05
Provision is that action of business in which business organisation reserves his money for future losses for safeguarding business.
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Answer / sapna
provision means----outstanding
example:- Rent @1000/- per month
april rent 1000/- paid in may
march rent 1000/- paid in april
thats amount is outstanding.
because fin. year apri to march
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Answer / ravindra sahu
provision is a way to book present f.y. expenses that is
not paid in this year. in provision entry we debit expenses
a/c & credit payble a/c that will debit in next year when
expenses will paid.
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