wiz-icon
MyQuestionIcon
MyQuestionIcon
11
You visited us 11 times! Enjoying our articles? Unlock Full Access!
Question

Provisions are created for _________.

A
Uncertain income/gain
No worries! We‘ve got your back. Try BYJU‘S free classes today!
B
Uncertain expenses/losses
Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses
C
Certain expenses/losses
No worries! We‘ve got your back. Try BYJU‘S free classes today!
D
Certain income/gain
No worries! We‘ve got your back. Try BYJU‘S free classes today!
Open in App
Solution

The correct option is B Uncertain expenses/losses
Provisions are created for the anticipated losses/expenses or for probable amount of liability based on certain assumption.

flag
Suggest Corrections
thumbs-up
0
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Overview of Accounting Processing
ACCOUNTANCY
Watch in App
Join BYJU'S Learning Program
CrossIcon