A

Admin • 833.24K Points
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Q. In accounting, provision means:

  • (A) Liability of uncertain amount
  • (B) Asset of known amount
  • (C) Revenue item
  • (D) Unrealized gain
  • Correct Answer - Option(A)
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  • Filed under category Accounting
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Explanation by: Admin

Provision is a liability with uncertain timing or amount, such as provision for bad debts.

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