A provision is | Faculties

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Mr. Dubey

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📊 Corporate Accounting

Q. A provision is

(A) a liability of uncertain timing or amount
(B) a possible obligation as a result of past events that is of uncertain timing or amount
(C) an adjustment to the carrying amount of assets
(D) none of these

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✅ Correct Answer: (A) a liability of uncertain timing or amount

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