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.



Why the provision is considered as expense and reserve is considered as liability even if they both..

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

Post New Answer

More Accounting General Interview Questions

what is trial balance.?

4 Answers  


what is Marshalling? Reply me on this no. 9885789716

1 Answers  


What is the use of form D in sale tax

0 Answers  


how do you calculate depreciation on land?

3 Answers   HP,


Tell me how many types of business transactions are there in accounting?

0 Answers  






how can we copy and paste an whole entry in tally9?

3 Answers   Indian Railways,


what is good will

10 Answers   Capital IQ,


how to prepare trial balance?

1 Answers  


Explain what are the rules for debit and credit for different accounts to increase the amount in your business accounts?

0 Answers  


Tax Invoice: Client had settled Rs. 5,25,000/- {after deducting TDS @ 10% from base/gross amount and then added (+) Service Tax Amount (15%)} which equals to Rs. 525000/- (Settled Amount by Client). Please let me know what will be gross amount and total invoice amount including Service Tax????

0 Answers  


journal

1 Answers   Bank Of America,


what is the eligible to deduct the professional tax?

2 Answers   Steria,


Categories