What Is The Meaning Of Provision?

What is provision example?

Examples of provisions include accruals, asset impairments, bad debts, depreciation, doubtful debts, guarantees (product warranties), income taxes, inventory obsolescence, pension, restructuring liabilities and sales allowances.

Often provision amounts need to be estimated.

Why Are Provisions Created?.

How does a provision work?

Definition: A provision is an amount set aside for the probable, but uncertain, economic obligations of an enterprise. A provision is an amount that you put in aside in your accounts to cover a future liability. … When accounting, provisions are recognized on the balance sheet and then expensed on the income statement.

What is meant by provision store?

A provision is a store or supply of something, like food or clothing. This noun can also describe the planning you do for “when something happens.”

What are provisions in a contract?

A contract provision is a stipulation within a contract, legal document, or a law. A contract provision often requires action by a specific date or within a specified period of time. Contract provisions are intended to protect the interests of one or both parties in a contract.

What does astonishment mean?

overpowering wonder or surprise; amazement: He looked with astonishment at his friends.

What does dexterity mean?

1 : readiness and grace in physical activity especially : skill and ease in using the hands manual dexterity. 2 : mental skill or quickness : adroitness.

How do you use the word provision?

Kids Definition of provision1 : a stock or store of supplies and especially of food —usually used in pl. We have provisions to last us a week.2 : the act of supplying the provision of food.3 : condition entry 1 sense 2 the provisions of a contract.4 : something done beforehand Make provision for emergencies.

What is the meaning of food provision?

noun. the act of supplying or providing food, etc. something that is supplied or provided. preparations made beforehand (esp in the phrase make provision for)

What is the difference between groceries and provisions?

Grocery/groceries = items of food sold in a grocer’s shop such as flour ,sugar, tinned food etc. Green grocer = shopkeeper selling vegetables and fruit. Related usages : to the grocer/to the grocer’s = to the grocer’s shop.

What part of speech is provisions?

provisionpart of speech:nounpart of speech:transitive verbinflections:provisions, provisioning, provisioneddefinition:to supply with food and other provisions. He was responsible for provisioning the troops. synonyms: purvey, victual similar words: cater, stockrelated words:feed, furnish, provide, supply10 more rows

What means make provision?

an arrangement or preparation made beforehand, as to meet needs. 4. a clause in a law, legal instrument, etc., providing for something; stipulation; proviso.

What is a synonym for provision?

provision. Synonyms: preparation, arrangement, produce, supply, anticipation, food, supplies, victuals, edibles, eatables. Antonyms: neglect, misprovision, forgetfulness, thoughtlessness, oversight, destitution, want, dearth, starvation, dole, pittance.