what is this


(Guest)

Meaning of Provision as per the companies act,1956 is

"It includes the amount,

i)written off,

ii)retained by way of providing for depriciation or reduction in the value of assets; or

iii)retained by way of providing for any known liability."

 

Point ii) iii) i understood.

but what is i)?

how it includes an amount written off?

what the sentence wants to tell?

Thank you very much everyone whosoever replies me.