Difference between Provision & Reserve?

Answer Posted / dharmendra jha

Privision is a liability and it is created on the basis of
estimation, but reserve is part of income which creates by
the firm and added in capital of the firm.

Is This Answer Correct ?    9 Yes 16 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

which are the basic princeples of accountancy... with examples

1733


How and by whom the Percentage of Depreciation is fixing?

1962


what is account & what is finance

1749


What will your outlook towards maintenance of liquid assets to ensure that the firm has adequate cash in hand to meet its obligations at all times

2077


1. The controlling department wants to see depreciation amount on internal orders. Which customizing setting do you need to make in asset accounting?(any 3 answer) Make the internal order in active assignment object. Make the internal order an account assignment object for the depreciation run. Set the field internal order to required or optional in the screen layout. Enhance relevant transfer variant by adding the field internal order. Assign the field internal order to account determination.

2336






i AM CURRENTLY DOING B.COM. i INTEND TO PURSUE MY MASTERS AT USA IN ECONOMICS AND FINANCE OR ACCOUNTING...CAN U TELL ME THE CRITERIA AND WHICH EXAM DO I NEED TO QUALIFY FOR???

1510


what is the good prasentation on interview

1739


We are working as Merchant Exporter. My Question is can we Sale the products against 'H' Form to the Exporter after purchasing the material against 'C' Form? Or only Manufacturer can make sale against 'H' Form.

1617


while passing a journal entry we rite dr. for the a/c to be debited but why don't we write cr. for the a/c which is credited and instead write 'TO'??

1556


Expand-------NSAC

1482


sir, i am working recruitment con.pvt ltd inthat one person salary will pay per month Rs.28000/- so i want to enter in our books only one salary payment or basic pay and spl.aa and others like this break up entrys we will pass please suggest

1819


what are the content of purchase order?

1634


Short Answer on ______________Import Trade

1432


hi to all i have also cleared sbi exam and my interview is on 26th may 2009.can any one help to prepare for interview

1643


what type of a/c these accounts are are tey real, nominal or personal (1)realisation a/c (2)new company a/c(3)equity share holders a/c

1808