Question

A provision can be specific reserve or general. Do you agree? Give reasons

Answer 1

Answer:

yes

Explanation:

If you have ever studied a balance sheet, you must have come across an item of provisions. It is listed on the liabilities side of the balance sheet. As easy as it sounds, it is not simple to understand the concept. You ought to understand this term and the purpose why we make use of it in accounts. Let us understand what provisions are.

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Answer 2

Answer

yes I agree

Explanation:

If you have ever studied a balance sheet, you must have come across an item of provisions. It is listed on the liabilities side of the balance sheet. As easy as it sounds, it is not simple to understand the concept. You ought to understand this term and the purpose why we make use of it in accounts. Let us understand what provisions are.