what are the similarities between provision and reserve?
- 6 Answers
- 13436 Views
- I also Faced
- E-Mail Answers
Answer Posted / arun kumar
provision is the amount kept a side for future known
liabilities
reserve is an amount kept a side to face future risk occur
in the business
| Is This Answer Correct ? | 4 Yes | 3 No |
Post New Answer View All Answers
adjustment entry showing in tally such as outstanding salary prepaid salary etc.
What are the elements of the accounting equation?
What will be the journal entry of purchase and sale for ac purchased for 40000 vat 5% sold for 45000 vat5%
Mention whether the account "cash" will be credited or debited when a company pays a bill?
Explain what is the disadvantage of double entry system?
How can i learn shortly Tally from computer coz, i want to take a company Balance Sheet
what is tax deducted at source
Sales tax waybill is required for how much value of invoice (for example we raise Rs.1000 bill is waybill required in andhra pradesh)
How time sheets are maintained?
What is the Project Accounting in case of Real Estate or Construction Co`s ?
Please describe your experience in inventory reporting & valuation including reconciliation of inventory accounts.
Hi I would like to know what is journal entry for buying securities with Margin Trading I mean 50% of cost is paid by broker. 2nd question is when we withdraw extra money from the balance we have in bank account which means our balance become (-) what is journal entry for that, should I just credit the bank or should I put the extra money with-drawled as a liability account ? Thank you in advance!
What are the differences between accounting and auditing?
what is the right process for input credit of Service tax. and on which service i can take credit.
How many accounting standards are currently published?
