Question

plzz give me answer!! what is the difference between provision and reserve in short​

Answer 1

Reserve is an appropriation of profit for a specific purpose, while a provision is the charge for an estimated expense.

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Answer 2

Answer:

The Provision means to keep some money for a known liability which is probable to arise after a certain time.

The Provision means to keep some money for a known liability which is probable to arise after a certain time. The Reserve is to retain some money from the profit to for any particular future use.

The Provision means to keep some money for a known liability which is probable to arise after a certain time. The Reserve is to retain some money from the profit to for any particular future use. The amount of provision cannot be used to pay off dividends, but the amount of the reserves can be used for so.

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