what do mean by reserve and provision both are same or not?
Answer Posted / sandhya
Reserve is amount set aside for future expense and
provision is amount paid for future expense.
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
What is Normal Loss? and What is the reason for Debiting such Loss in P&L account and also Crediting in Trading Account? and how the Loss should be accounted?
Hello sir, i am assistent executive in partnership firm.i learn't tds return, sales tax return, service tax return and all accounting entry,reconciliation with customer & supplier.BRS. please guide me for more knowledgeble sectore in account. hense i reach become a good position in account sectore.
payment voucher for advance salary
Explain me is any difference between inactive and dormant accounts?
What is ERP? Diff b/w Income & Expenditure a/c & P/L a/c? What is the fullform & the application of SAP? What is the reasons where Balance sheet will not tally?
a cheque is received from a debtor and is deposited in the bank on the same day. what will be the journal entry?
Can you name any other accounting application?
correction of sundry creotors
What is the difference between Accruals and Provisions?
if my salary is 12000 per month how much i will get after deducting PF an ESI
we are import a cnc machine, we have availed customs duty, CVD & Additional duty credit?
how will decide that vender payment is ok without reco
Please give me a suggession to calculate the T.D.S,E.S.I,P.F, From salary which is in gross Rs. 15000/.
what are the adjustments and treatment with connection to the profit and loss appropriation accounts and how they do?
How new/innavtive assets are to be treated under IFRS?