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Chapter: 12th Auditing : Chapter 8 : Reserves and Provisions

Differences Between Reserves and Provisions

Generally the term ‘Reserves’ and ‘Provisions’ are used together, giving an impression that both are one and the same thing.

Differences Between Reserves and Provisions

Generally the term ‘Reserves’ and ‘Provisions’ are used together, giving an impression that both are one and the same thing. However, it is desirable to understand the differences between the two terms.




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