Define Reserve & Provision?
Answer Posted / vellingiri
Reserve:
Reserve is created out of the profit of a company for the
purpose of distribution of divident and redemption of
shares/debentures etc.
Provision;
Provision is created for a particular purpose for
example income tax provision. So that particular provision
can be utilized for that particular purpose.
| Is This Answer Correct ? | 32 Yes | 3 No |
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