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what are the similarities between provision and reserve?

Answer Posted / bhagya

Provision
we are creating provision for expenses which are going to
occur in future we do not konw the exact future expenses

Reserve
out of profit some protion of allotted as a reserve balance
are distribute as a dividend to shareholders
this reserve use for future business investment

Similarities between provision & reserve we are allocating
some amount ie., unknown amount (Unknown exp., or unknown
purpose of reserve creating (fe.,)we do not know the
investment amount

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