What is provision
and Explain its salient
Features
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In financial accounting under International Financial Reporting Standards, a provision is an account which 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 in the entity's income statement.
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A salient feature is a strong or dominant characteristic, tone, or theme something has. For example, salient features of South East Asian cuisine include its spiciness and use of rice. So, salient features of literature mean important or dominant characteristics found in written pieces.
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