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What are importance of provisions in …

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What are importance of provisions in accounting

Posted by Harshita Singh Rajput 6 years, 2 months ago

CBSE > Class 11 > Accountancy

2 answers

Harshita Singh Rajput 6 years, 2 months ago

Bahut late aapne answer diya ..... thanks

Thakur Harshita Singh 6 years, 2 months ago

A provision is an amount that you put inside in your 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.

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