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Amount provided for any known liability whose amount as yet is uncertain is known as
  • a)
    Liability
  • b)
    Reserve
  • c)
    Provision
  • d)
    None of the above
Correct answer is option 'C'. Can you explain this answer?
Most Upvoted Answer
Amount provided for any known liability whose amount as yet is uncerta...
Provision is made to meet a specific liability whose amount cannot be determined with substantial accuracy.
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Amount provided for any known liability whose amount as yet is uncertain is known asa)Liabilityb)Reservec)Provisiond)None of the aboveCorrect answer is option 'C'. Can you explain this answer?
Question Description
Amount provided for any known liability whose amount as yet is uncertain is known asa)Liabilityb)Reservec)Provisiond)None of the aboveCorrect answer is option 'C'. Can you explain this answer? for Class 12 2024 is part of Class 12 preparation. The Question and answers have been prepared according to the Class 12 exam syllabus. Information about Amount provided for any known liability whose amount as yet is uncertain is known asa)Liabilityb)Reservec)Provisiond)None of the aboveCorrect answer is option 'C'. Can you explain this answer? covers all topics & solutions for Class 12 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Amount provided for any known liability whose amount as yet is uncertain is known asa)Liabilityb)Reservec)Provisiond)None of the aboveCorrect answer is option 'C'. Can you explain this answer?.
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