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Provision is created for _

(a) Unknown Liabilities

(b) Known Liabilities

(c) Creation of Secret Reserves

(d) All the Three

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Question added by Shamseer KM , Accounts and Admin Payroll , KBM Group
Date Posted: 2015/03/11
Sarika Devi Rajeevkumar
by Sarika Devi Rajeevkumar , Assistant Accountanat , West Zone Group L.L.C.

provision is creating for known loss or liabilities answer (b)

 

Shamseer KM
by Shamseer KM , Accounts and Admin Payroll , KBM Group

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

Mohammad Hamza  Khalid
by Mohammad Hamza Khalid , Global Control Commercial Company , Global Control Commercial Company

All Four Unknown Liabilities (b) Known Liabilities (c) Creation Of Secret Reserves (c) Creation Of Secret Reserves and (d) All The Three

Muhammad Sabith
by Muhammad Sabith , Accountant , SIMORA

Provision is only created for KNOWN LIABILITIES. B is the correct answer

VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Answer option : (b) Known Liabilities

Aliyu Baba
by Aliyu Baba , Drug demand reduction officer , National Drug Law Enforcement Agency

Option b is the correct answer

ahmed aldhurafi
by ahmed aldhurafi , مراجع داخلي ومراقب مالي , شركة تأمين

a) Unknown Liabilities is wrong

b) Known Liabilities is wrong 

Khurram Shaukat Memon
by Khurram Shaukat Memon , Academic Research Writer , Freelance Academic Research Writer

I think option (b) is correct answer.

Mohamed Rafiulla
by Mohamed Rafiulla , Asst. Manager HR , Indian Designs Exports Pvt Ltd

Provision is created for All the three

Ehab Obeidat
by Ehab Obeidat , Business Development and International Trading Manager , Grain Trade Solutions Ltd.

(c) Creation of Secret Reserves

 

Mohsin Diwan
by Mohsin Diwan , Accountant , Quality Punch

It is created for a known loss and profit.

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