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Difference between provision & reserve with an example?
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provision are those liabilites that are certain for a
period like that provision for TAX, Insurance, Provision
for salary etc.
Reserve that is made for some uncertain or certain future
incident like that Reserve for plant and machinery
| Is This Answer Correct ? | 18 Yes | 5 No |
Answer / raj kumar
we make proviions for future uncertain circumtances and
make reserve for certain circumtances.
| Is This Answer Correct ? | 14 Yes | 6 No |
Answer / venkata subbaiah
provision is income tax and out standing liabilities
| Is This Answer Correct ? | 1 Yes | 9 No |
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