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Difference between reserves for bad debts & provision for
bad debts.
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Answer Posted / irfan khan
PROVISION IS KEPT WITH THE NAME OF A PARTICULAR LIABILITY
AND IT IS CHARGET TO PROFIT AND LOSS ACCOUNT WHERE AS
RESERVE IS KEPT FROM PROFIT AND LOSS APPROPRATION ACCOUNT
FOR GENERAL PURPOSE TO UTILIZE OR ORGANIZATION EXPANSION
| Is This Answer Correct ? | 14 Yes | 5 No |
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