Provisions are the liabilities or the anticipated items such as depreciation. You can say provisions are expenses. Reserves are the profits of any company and a part of that profit is placed back to the business to keep it sustainable in tough times of a company.
Tell us whether the account “Cash” will be credited or debited, when a company pays a bill?
Tell us what do we mean by purchase return in accounting?
What does the investment of personal assets by the owner will do?
Which account is responsible for interest payable?
What is Bad debt expense?
Can you define Offset accounting?
Tell us entries to revenues accounts such as Service Revenues are usually?
Do you know what is company’s payable cycle?
Tell us what is assets minus liabilities?
What is partitioning in accounting?
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