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what do mean by reserve and provision both are same or not?
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Answer Posted / sandhya
Reserve is amount set aside for future expense and
provision is amount paid for future expense.
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in our co we are sales of good to branch in order sales+fright, branch made jv entry in own book as full amount debit and credit. now our book show sales without freight but branch shows including freight that why differences is arise due to wrong entry passes pls clarify this entry and this entry is done last year book now balance is finalize.
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