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  • 24-02-2021
  • Business
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. A provision is known as,

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MghGamer
MghGamer MghGamer
  • 24-02-2021
A provision is an amount set aside from a company's profits to cover an expected liability or a decrease in the value of an asset, even though the specific amount might be unknown.The IFRS sometimes calls a provision a reserve; however, reserves and provisions are not interchangable concepts.
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