Why the provision is considered as expense and reserve is
considered as liability even if they both are allocated as
precautionary for specific and general purpose? pls Explain.
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Answer Posted / mohamad
Provision is considering expense bcz we are making
provision against the profit, like Provision for bad debts,,
Reserve should be consider as a liability bcz we have
liable to pay that,, Ex: Devident Reserve,,,,,
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