Difference between provision and reserves
This query is : Resolved
Ankush Patiyal
(Querist)
05 July 2012
please let me know what is the main difference between provision and the reseves.
CA CS Amit S. Kedia
(Expert)
05 July 2012
Provisions are made for meeeting the liabilities but reserves are not for meeting the expenses.Resereves are real profit of the company.
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