Question

what is provision....
explain me in brief​

Answer 1

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.

Answer 2

Answer:

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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