Tell Me What Is The Difference Between Provision And Reverse?

1.	Tell Me What Is The Difference Between Provision And Reverse?
Answer» Provisions are CREATED in books as they are anticipated. Example: PROVISION for depreciation RESERVES are created in books as a part of profits, which might used to purchase ASSETS or to declare dividends. Provisions are created in books as they are anticipated. Example: provision for depreciation Reserves are created in books as a part of profits, which might used to purchase assets or to declare dividends.

Answer»

Provisions are CREATED in books as they are anticipated. Example: PROVISION for depreciation

RESERVES are created in books as a part of profits, which might used to purchase ASSETS or to declare dividends.

Provisions are created in books as they are anticipated. Example: provision for depreciation

Reserves are created in books as a part of profits, which might used to purchase assets or to declare dividends.

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