Liabilities Vs Provision Vs Reserve | आखिर तीनों में फर्क क्या है | Accounting | Balance Sheet

After watching this video, you will become know what is difference between Provision, Reserve and Liability, What is provision, What is reserve, how is provision differ from liability.
𝐏𝐫𝐨𝐯𝐢𝐬𝐢𝐨𝐧 👇
Any Amount retained by way of providing for any known liability of which amount cannot be determined with substantial accuracy is called provision
𝐋𝐢𝐚𝐛𝐢𝐥𝐢𝐭𝐲👇
If any amount is Known liability which can be determined with reasonable accuracy, it is called Liability
𝐑𝐞𝐬𝐞𝐫𝐯𝐞 👇
Reserve means amount set aside out of profit and other surplus to meet future uncertainties
#Provision
#liabilities
#bookkeeping
#class11accounts
#tally
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𝐓𝐢𝐦𝐞𝐥𝐢𝐧𝐞
0:21 Liability Meaning
1:54 Provision Meaning
6:23 Reserve Meaning
10:05 Provision vs Reserve
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