What are Provisions And Reserves ? | Letstute Accountancy

Hello Friends,
Check out our latest video on Provisions and Reserves in Accounting for class 11 Accountancy.
Provision implies to the money set aside to cover an anticipated liability or loss.
reserves refer to withholding some amount for any use in future. Provision and reserves are two terms which are highly confused, but they carry different meanings.

Time Stamp
0:00 Introduction
2:19 Business Expenses
3:08 Definition of Provisions and Reserves

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