Accounting Question:
Download Job Interview Questions and Answers PDF
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.
Reserves are created in books as a part of profits, which might used to purchase assets or to declare dividends.
Download Accounting Interview Questions And Answers
PDF
| Previous Question | Next Question |
| What is the difference between Perpetual and Periodic Inventory systems? | What is an adjusting journal entry? |