What are Provisions..??
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The providing or supplying of something, especially of food or other necessities. arrangement or preparation beforehand, as for the doing of something, the meeting of needs, the supplying of means, etc. something provided; a measure or other means for meeting a need. a supply or stock of something provided......
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hi
Explanation:
Provisions essentially refer to any funds set aside from company profits for this express purpose. To qualify as a provision in accounting, the funds must be for a specific purpose, such as to offset the decrease in an asset's value.
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