Question

An amount not including "Any amount written off or retained by way of providing for depreciation, renewals or diminution in the value of assets or retained by way of providing for any known liability" is called ____________.

• A. Provisions
• B. Reserve
• C. Fund
• D. Secret Reserve

Answer 1

The correct option is A Provisions

Any amount written off or retained by way of providing for depreciation, renewals or diminution in the value of assets or retained by way of providing for any known liability is called provisions