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Question Practice

Which of the following statements about provisions is true?

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MCQ_SA
CBSE
Class 11
Accountancy
Financial Accounting - I
Depreciation, Provisions and Reserves
Question Bank

Which of the following stateme...

Single Answer MCQ
Q-00054342

Which of the following statements about provisions is true?

1

Provisions are recorded in current assets.

2

Provisions are mandatory under all circumstances.

3

Provisions can be reversed if no longer needed.

4

Provisions increase overall profitability.

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