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What is the provision?

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What is the provision?

Posted by Krish Satija 7 years, 4 months ago

CBSE > Class 11 > Accountancy

3 answers

Krish Satija 6 years, 11 months ago

Thanks ??

Sakshi Sharma ??️??️??️ 7 years, 4 months ago

A provision is an amount that anyone put in aside in his accounts to cover a future liability. The purpose of a provision is to make a current year's balance more accurate, as there may be costs which could, to some extent, be accounted for in either the current or previous financial year.

Krish Satija 7 years, 4 months ago

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