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WHAT IS THE DIFFERENCE BITWEEN RESERVE & PROVISION?
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Answer Posted / shiju
The main difference is a provision always made for meeting
some specific contingencies,like provision for depreciation
etc.But reserves is a part of profit it setaside out of the
net profits earned,and it dont have any special purposes
usually.
But in some cases the there is a restriction regarding the
use of reserves.
| Is This Answer Correct ? | 18 Yes | 1 No |
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