Question

Long term provision with example

Answer 1

In financial accounting an provision is an account which records a present of the liability of an entity.I knpw this much only nd hope that ot helps you.

Answer 2

Long term provision is a that type of provision which is expected to mature after more than 12 months..


It is a non current liability of the business which never has an idea when it comes in the business.


Examples of long-term liabilities include; 
-Provision for depreciation
-provision for repairs 
-and renewals.