Interested to Buy Any Domain ? << Click Here >> for more details...
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.
- 1 Answers
- 3960 Views
- I also Faced
- E-Mail Answers
Answer / 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,,,,,
| Is This Answer Correct ? | 5 Yes | 0 No |
What are all the MIS reports you prepare in your company for the management
How do caculate goodwill of a company?
what is accounts payable ..what is accounts receivable
what is balance of trade
what entry can be done for the payment to auditor?
what is Real a/c
what is Finalization of Accounts?
What do you find most satisfying about this job?
what is Inward & outward remittances
accounting principles, accounting concepts,meaning of managment and financial accounting and cost accounting.
RESERVE A/c - What is the type of A/c means is this a Personal A/c or Real A/c or Nominal A/c?
how to we pass a purchase entry in item invoice mode where some advance has been paid to the party. the purchase entry should get offset with the advance payment entry so that it does not appear in the bill outstanding or bills due list. please guide.thank you
Audit 
