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Define Reserve & Provision?
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Answer / vellingiri
Reserve:
Reserve is created out of the profit of a company for the
purpose of distribution of divident and redemption of
shares/debentures etc.
Provision;
Provision is created for a particular purpose for
example income tax provision. So that particular provision
can be utilized for that particular purpose.
| Is This Answer Correct ? | 32 Yes | 3 No |
Answer / adit
reserve is a part of divedent which company kept for itself for future growth and expansion.
| Is This Answer Correct ? | 14 Yes | 5 No |
Answer / ashok
Reserve
Reserve is Created to Meet Future Unexpected Exp. or
Liability
provision
provison is Created to meet Expected expenses (but unknown
figure)of Accounting Period in Future.
| Is This Answer Correct ? | 13 Yes | 6 No |
Answer / vijayakumar
Spelling of dividend not divident
In American accounting they use only the term provision or allowance In India now people use both in the same sence
| Is This Answer Correct ? | 0 Yes | 0 No |
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