What is the difference between a payable and a provision?

Question:

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For answer-question

Financial Accounting An Integrated Approach

ISBN: 9780170349680

6th Edition

Authors: Ken Trotman, Michael Gibbins, Elizabeth Carson

See More Books

Question Posted: Jan 25, 2024 05:00 AM

See More Questions

The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
Below are the estimated sales for Natasha Shop. Estimated Sales October November December $92,000 $106,000 $87,000 Credit sales are normally 30 per cent of total sales; 60 per cent are collected in...
What is the difference between a note payable and a mortgage payable?
What is wrong with the following code fragment? int[] a; for (int i = 0; i < 10; i++) a[i] = i * i;
A free neutron is unstable and decays into a proton and an electron. How much energy other than the rest energies of the proton and electron is available if a neutron at rest decays? This is an...
Recall exercise 1 from Chapter 5 in which an increase in the toll on a highway from $.40 to $.50 would reduce use of the highway by 5,000 cars per week. a. Because of the reduced use of the highway,...
Fun-Tastic Shows, Inc., is a company that hosts carnivals and similar events. Susan Swartwood, Crystal Groth, and a minor (named in the case as M.G.S.) attended Fun-Tastics Rhododendron Festival in...
Interest during Construction Grieg Landscaping began construction of a new plant on December 1, 2010. On this date the company purchased a parcel of land for $139,000 in cash. In addition, it paid...
You are given the following algorithm written in pseudocode where the entries of the input array A and the input k are positive integer numbers. Also, assume that array A has sufficiently large...
Explain the relationship between liabilities and expenses. Provide five examples where they both increase at the same time.
Balmer Ltd has a warranty plan. Estimated warranty liability was $50 000 at the beginning of the year. Based on the company's sales for the year, warranty service costing $78 500 in wages and other...
Solve for t using natural logarithms. 130 = 10 t
what ways do psychological resilience and neuroplasticity intersect, and how do these phenomena contribute to an individual's capacity to cope with adversity and bounce back from setbacks?
How do principles of delegation intersect with organizational hierarchy and distributed decision-making structures, particularly in complex, multi-layered enterprises?
what ways does delegation serve as a mechanism for skill development and talent management within organizations, and how can it be leveraged to foster employee empowerment and career progression?
Why JIT inventory management approaches might not be sustainable from an environmental perspective?
Find System data rate, User data rate and efficiency of the given system. [2] 1 guard space 2 GSM TDMA frame 4 3 higher GSM frame structures tail user data 3 bits 57 bits 5 GSM time-slot (normal...
What is the basis for choosing between actual and standard costs for cost-based transfer pricing?
Listed below are common types of current liabilities, contingencies, and commitments: a. Accounts payable b. Bank loans and commercial paper c. Notes payable d. Dividends payable e. Sales and excise...
Under what circumstances will a company report a net pension asset? A net pension liability?
What are the economic and accounting differences between a defined contribution plan and a defined benefit plan?
ls the expense of a lease over its entire life the same whether it is a finance or an operating lease? Explain.
* The output of the following code is #include using namespace std; int main(){ int x=5, y 7, z = 10; if ((x%2-0)&&(x%7=0)&&(z%10=0)){ cout
What is the output from the following program #include #include using namespace std; int main() { int x = 4; int y = 3; cout < < static_cast (pow(x, 2.0)) < < endl;
If the PDE: 224 024 + Ju 2 +4= v d v where

What is the difference between a payable and a provision?

Question:

Step by Step Answer:

Both payables and provisions are liability accounts but they serve different purposes and are used i...View the full answer

Financial Accounting An Integrated Approach

Students also viewed these Business questions