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Class 12 Tuition > Learn Accountancy > Give one definition of Provision.
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Give one definition of Provision.

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A provision is an amount set aside from the profits in the accounts of a business to cover a known liability or to account for depreciation of an asset.
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A provision is an amount that you put in aside in your accounts to cover a future liability. Examples are like :- Provision for doubtful debts Provision for depreciation
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