Accountancy, asked by narerdramodi1976, 11 months ago

Distinguish between ‘provision’ and ‘reserve’.

Answers

Answered by darshit28
4

Answer:

In the business glossary, provision implies money set aside to cover an anticipated liability or loss. Look the other term Reserve, reserves refer to withholding some amount for any use in future. Provision and reserves are two terms which are highly confused, but they carry different meanings.

Similar questions