Question

what is provision ??

Answer 1

Answer:

In financial accounting under International Financial Reporting Standards, a provision is an account that records a present liability of an entity. The recording of the liability in the entity's balance sheet is matched to an appropriate expense account on the entity's income statement

Answer 2

Explanation:

A provision is an account that records a present liability of an entity. The recording of the liability in the entity's balance sheet is matched to an appropriate expense account on the entity's income statement.

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