Interested to Buy Any Domain ? << Click Here >> for more details...
WHAT IS THE DIFFERENCE BITWEEN RESERVE & PROVISION?
- 3 Answers
- 8681 Views
- Genpact, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / g.ravi
Provisions are those where the liability existance is
certain, but the amount of liability cannot be determined
with substantial accuracy.
In case of reserves, the liability is not known. but some
amount of profits are kept aside for meeting the
contingencies that might become actual liabilities.
| Is This Answer Correct ? | 29 Yes | 2 No |
Answer / shiju
The main difference is a provision always made for meeting
some specific contingencies,like provision for depreciation
etc.But reserves is a part of profit it setaside out of the
net profits earned,and it dont have any special purposes
usually.
But in some cases the there is a restriction regarding the
use of reserves.
| Is This Answer Correct ? | 18 Yes | 1 No |
Answer / imran khan
Provisions are those where the liability existance is
certain, but the amount of liability cannot be determined
with substantial accuracy.
In case of reserves, the liability is not known. but some
amount of profits are kept aside for meeting the
contingencies that might become actual liabilities.The main
difference is a provision always made for meeting
some specific contingencies,like provision for depreciation
etc.But reserves is a part of profit it setaside out of the
net profits earned,and it dont have any special purposes
usually.
But in some cases the there is a restriction regarding the
use of reserves.
| Is This Answer Correct ? | 6 Yes | 0 No |
how many category of valuation of shares?
What is contract accounting?
which Electrical items is Exciseible
---------is the main or principle book of accounts
what is share holders fund
what is fraud check?
WHAT R THE POTENTIAL EUITY SHARES
What do you mean by Amortization?
hello,dear any body give me mis report format. my email :kumar_ranjeet121@yahoo.in
Expand N S E
EXPAND_________SEB
What form of classification of expenses is expected for a charity whose gross income does not exceed ?250,000 preparing accruals accounts?
Audit 
