UrbanPro

Take Class 11 Tuition from the Best Tutors

  • Affordable fees
  • 1-1 or Group class
  • Flexible Timings
  • Verified Tutors

Search in

Give one definition of Provision.

Asked by Last Modified  

Follow 3
Answer

Please enter your answer

A provision is an amount set aside from the profits in the accounts of a business to cover a known liability or to account for depreciation of an asset.
Comments

A provision is an amount that you put in aside in your accounts to cover a future liability. Examples are like :- Provision for doubtful debts Provision for depreciation
Comments

Related Questions

What is the difference between Bad debts and bad & doubtful debts. What are the legal compliances for the provisions for doubtful debts and bad debts recovered after being written off. 

Both are pretty much same.. Bad debts amount to be transferred to P/L a/c (dr side) Baddebts recovered P/L credit side as income Provision on doubtful debts to be deducted from debtors in balance sheet..
Suneha Sharma
1 0
7

How many types of GST in India 

Four types of GST in our India. 1.SGST 2.CGST 3.UGST 4.IGST
Subhash Chandra Thakur

How to become a tutor in urbanpro? 

 

TO BECOME A TUTOR IN URBON PRO YOU HAVE DOWNLOAD THE URBAN PRO TUTOR APP FROM PAY STORE . SIGN IN WITH DETAILS . CREATE A PROFILE WHICH WILL ACT AS . ADD VERFICATION DOCUMENTS AND ALL NECESARY DETAILS . TO CONTINOU TUTOR HAVE TO LOGIN TO THE PORTAL
Kiruthiga

What is matching concept in acvount? 

Cost should match with revenue for that period
Harender

Now ask question in any of the 1000+ Categories, and get Answers from Tutors and Trainers on UrbanPro.com

Ask a Question

Related Lessons

Chapter 1 - Introduction to Accounting
History of Accounting : Before knowing the history of accounting, let us know about the history of money which is the basis of the accounting process. Money : Item or verifiable record accepted for...
D

Financial Accounting
Accounting is the art of recording, classifying, summarising in a significant manner regarding money, transaction & events which are at least in part financial interpreting the result thereof. (AICPA...



Generally Accepted Accounting Principles (GAAP)
GAAP is the common set of accounting principles, standards and procedures that organizations use to make accounting transactions and compile their financial statements. GAAP is a combination of: Commonly...

Recommended Articles

With the current trend of the world going digital, electronic renaissance is a new movement that is welcomed by the new generation as it helps makes the lives of millions of people easier and convenient. Along with this rapidly changing movement and gaining popularity of Internet, e-Learning is a new tool that emerging...

Read full article >

E-learning is not just about delivering lessons online. It has a much broader scope that goes beyond manual paper or PowerPoint Presentations. To understand the reach of E-learning and how the whole process works in developing the Educational system, we will discuss a few points here. Let us find out how this new learning...

Read full article >

Appearing for exams could be stressful for students. Even though they might have prepared well, they could suffer from anxiety, tension etc. These are not good for their health and mind. However, following a few exam preparation tips can save them from all these and help them to score good marks. Let’s find out all...

Read full article >

Once over with the tenth board exams, a heavy percentage of students remain confused between the three academic streams they have to choose from - science, arts or commerce. Some are confident enough to take a call on this much in advance. But there is no worry if as a student you take time to make choice between - science,...

Read full article >

Looking for Class 11 Tuition ?

Learn from the Best Tutors on UrbanPro

Are you a Tutor or Training Institute?

Join UrbanPro Today to find students near you
X

Looking for Class 11 Tuition Classes?

The best tutors for Class 11 Tuition Classes are on UrbanPro

  • Select the best Tutor
  • Book & Attend a Free Demo
  • Pay and start Learning

Take Class 11 Tuition with the Best Tutors

The best Tutors for Class 11 Tuition Classes are on UrbanPro

This website uses cookies

We use cookies to improve user experience. Choose what cookies you allow us to use. You can read more about our Cookie Policy in our Privacy Policy

Accept All
Decline All

UrbanPro.com is India's largest network of most trusted tutors and institutes. Over 55 lakh students rely on UrbanPro.com, to fulfill their learning requirements across 1,000+ categories. Using UrbanPro.com, parents, and students can compare multiple Tutors and Institutes and choose the one that best suits their requirements. More than 7.5 lakh verified Tutors and Institutes are helping millions of students every day and growing their tutoring business on UrbanPro.com. Whether you are looking for a tutor to learn mathematics, a German language trainer to brush up your German language skills or an institute to upgrade your IT skills, we have got the best selection of Tutors and Training Institutes for you. Read more