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What is Provision of expenses?

Answers were Sorted based on User's Feedback



What is Provision of expenses?..

Answer / wasim

Provision:
It is a liability, certain sum of amount kept aside to meet
the contingencies

Is This Answer Correct ?    37 Yes 7 No

What is Provision of expenses?..

Answer / chandu

provision of expenses means the expense amount is kept for known future expense.
provision is liability to the business.

Is This Answer Correct ?    38 Yes 8 No

What is Provision of expenses?..

Answer / leela

A financial institution, such as a bank, hedge fund or
insurance firm, records a provision expense in accounting
ledgers when the institution believes it may not recover
loan amounts from a borrower.

Is This Answer Correct ?    7 Yes 6 No

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