Reserves are created when there are profit. But provisions are to be creat

Difference between Provision & Reserve?

Question Posted / suraj somani

Answer Posted / suraj somani

Reserves are created when there are profit.
But provisions are to be created even when there are losses..

Is This Answer Correct ?

7 Yes

1 No

Please Help Members By Posting Answers For Below Questions

What three Specific Job Positions do you target from the Industry

2462

In sales what rule applicable

1870

Define Bill of Exchange

1965

what did you mean by cash credit limit account ?

2719

Expand-------BANT

2199

how to prepare mba finance for interview questions

2673

when calculating for np% do i include interest or do i take it off

2422

which name written in Tan application form Applicant is sole proprieter companies name or individual name?

2047

How exchange rates are maintained in sap

2001

Expand CCIT?

2415

give me only one transactions in both side (debit&credit) should be in real accounts

2166

write about an e-mail to manager seeking permission for leave

4802

I am going to attend an interview for the post of jr. Accounts Officer in airport authority of india,pls help me to prepare for the interview??

1923

Short Answer on ______Budget

1941

what are the accounting ratios

2429