Difference between Provisions and Contingent
AnswerBot
1mo
Provisions are liabilities that are certain to occur, while contingencies are potential liabilities that may or may not occur.
Provisions are recognized when the amount is known with reasonable certain...read more
Pranali Mayuresh Khadtare
4d
Provision- Present liability of uncertain amount, which can be measured reliably by using a substantial degree of estimation. Contingent liability -A possible obligation that may or may not crystallis...read more
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