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(a) Unknown Liabilities
(b) Known Liabilities
(c) Creation of Secret Reserves
(d) All the Three
provision is creating for known loss or liabilities answer (b)
Hi,
Here i got many answers..
Unknown liabilities, Known Liabilities,Secret reserve and all of these..
The correct answer is Option B) - KNOWN LIABILITIES
Many thanks to all
Shamseer
All Four Unknown Liabilities (b) Known Liabilities (c) Creation Of Secret Reserves (c) Creation Of Secret Reserves and (d) All The Three
Provision is only created for KNOWN LIABILITIES. B is the correct answer
Answer option : (b) Known Liabilities
a) Unknown Liabilities is wrong
b) Known Liabilities is wrong
I think option (b) is correct answer.
Provision is created for All the three
(c) Creation of Secret Reserves
It is created for a known loss and profit.
