SSC CGL Exam > SSC CGL Videos > SSC CGL Tier 2 - Study Material, Online Tests, Previous Year > Calculating Provision and Reserves
Calculating Provision and Reserves Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
FAQs on Calculating Provision and Reserves Video Lecture - SSC CGL Tier 2 - Study Material, Online Tests, Previous Year
| 1. What are provisions and reserves in accounting? |  |
Ans. Provisions and reserves are accounting terms used to set aside funds for certain anticipated expenses or losses. Provisions are created for specific known liabilities or potential losses, while reserves are set aside for general or unspecified purposes.
| 2. How are provisions different from reserves? | |
Ans. Provisions are created to account for specific liabilities or potential losses that are known or can be estimated with reasonable certainty. Reserves, on the other hand, are more general and are set aside for future contingencies or uncertainties that may arise.
| 3. What is the purpose of creating provisions and reserves? | |
Ans. The purpose of creating provisions and reserves is to ensure that a company has sufficient funds set aside to cover anticipated expenses or losses. This helps in accurately reporting the financial position of the company and ensures that future obligations can be met.
| 4. How are provisions and reserves accounted for in financial statements? | |
Ans. Provisions are typically shown as liabilities on the balance sheet, as they represent known obligations or potential losses. Reserves, on the other hand, are not separately shown on the financial statements but may be disclosed in the footnotes or management discussion and analysis section.
| 5. Can provisions and reserves be reversed or adjusted in the future? | |
Ans. Yes, provisions and reserves can be reversed or adjusted in the future based on changes in circumstances or new information. If the anticipated expense or loss no longer exists, provisions can be reversed. Similarly, reserves can be utilized or adjusted based on the company's needs and requirements.
About this Video
4.63/5
Rating
Jul 14, 2025
Last updated
Video Description: Calculating Provision and Reserves for SSC CGL 2025 is part of SSC CGL Tier 2 - Study Material, Online Tests, Previous Year preparation.
The notes and questions for Calculating Provision and Reserves have been prepared according to the SSC CGL exam syllabus.
Information about Calculating Provision and Reserves covers all important topics for SSC CGL 2025 Exam.
Find important definitions, questions, notes, meanings, examples, exercises and tests below for Calculating Provision and Reserves.
Introduction of Calculating Provision and Reserves in English is available as part of our SSC CGL Tier 2 - Study Material, Online Tests, Previous Year for SSC CGL & Calculating Provision and Reserves in
Hindi for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year course. Download more important topics related with notes, lectures and mock test series for
SSC CGL Exam by signing up for free.
Description
Video Lecture & Questions for Calculating Provision and Reserves Video Lecture | SSC CGL Tier 2 - Study Material, Online Tests, Previous Year - SSC CGL full syllabus preparation | Free video for SSC CGL exam to prepare for SSC CGL Tier 2 - Study Material, Online Tests, Previous Year.
Information about Calculating Provision and Reserves
Here you can find the meaning of Calculating Provision and Reserves defined & explained in the simplest way possible.
Besides explaining types of Calculating Provision and Reserves theory, EduRev gives you an ample number of questions to practice Calculating Provision and Reserves tests,
examples and also practice SSC CGL tests.
Related Searches
Calculating Provision and Reserves Video Lecture | SSC CGL Tier 2 - Study Material
,Exam
,video lectures
,Extra Questions
,ppt
,Free
,Calculating Provision and Reserves Video Lecture | SSC CGL Tier 2 - Study Material
,Online Tests
,Previous Year
,Viva Questions
,Calculating Provision and Reserves Video Lecture | SSC CGL Tier 2 - Study Material
,past year papers
,Semester Notes
,Sample Paper
,study material
,Previous Year Questions with Solutions
,Previous Year
,MCQs
,Online Tests
,practice quizzes
,Summary
,Previous Year
,Objective type Questions
,shortcuts and tricks
,Important questions
,mock tests for examination
,Online Tests
;
Study Calculating Provision and Reserves on the App
Students of SSC CGL can study Calculating Provision and Reserves alongwith tests & analysis from the EduRev app,
which will help them while preparing for their exam. Apart from the Calculating Provision and Reserves,
students can also utilize the EduRev App for other study materials such as previous year question papers, syllabus, important questions, etc.
The EduRev App will make your learning easier as you can access it from anywhere you want.
The content of Calculating Provision and Reserves is prepared as per the latest SSC CGL syllabus.
|
© EduRev
|
Education Revolution
|
|
Signup to see your scores
go up within 7 days!
Access 1000+ FREE Docs, Videos and Tests
Takes less than 10 seconds to signup