What Is Provision Of Food?

What are provisions?

A provision is an amount set aside from a company’s profits to cover an expected liability or a decrease in the value of an asset, even though the specific amount might be unknown.

A provision is not a form of savings; instead, it is a recognition of an upcoming liability..

What is provision in law?

noun. a clause in a legal instrument, a law, etc., providing for a particular matter; stipulation; proviso. the providing or supplying of something, especially of food or other necessities.

What is provision entry?

Provisions are established by recording an appropriate expense in the income statement of the business and establishing a corresponding liability as a provision account in the balance sheet statement. The journal to record the provision would be as follows. Provision journal entry. Account. Debit.

What part of speech is provisions?

provisionpart of speech:nounpart of speech:transitive verbinflections:provisions, provisioning, provisioneddefinition:to supply with food and other provisions. He was responsible for provisioning the troops. synonyms: purvey, victual similar words: cater, stockrelated words:feed, furnish, provide, supply10 more rows

What does provision of food mean?

the providing or supplying of something, especially of food or other necessities. arrangement or preparation beforehand, as for the doing of something, the meeting of needs, the supplying of means, etc.

What is another word for provision?

Provision Synonyms – WordHippo Thesaurus….What is another word for provision?conditionstipulationprovisorequirementreservationqualificationrideragreementrestrictionspecification39 more rows

How does a provision work?

Definition: A provision is an amount set aside for the probable, but uncertain, economic obligations of an enterprise. A provision is an amount that you put in aside in your accounts to cover a future liability. … When accounting, provisions are recognized on the balance sheet and then expensed on the income statement.

How do you make a provision?

How can Provision be Created?The company must perform a reliable amount of regulatory measurement of the obligation.It must be probable that the obligation results in a financial drag on economic resources.

What are general provisions in a contract?

General contract provisions are requirements including standard conditions in contracts like terms of payment, terms of delivery, and recommended measures against contract violation. Parties usually add boilerplate conditions to their contracts for the following reasons: For increased efficiency.

What does provision of information mean?

2 something that is supplied or provided. 3 preparations made beforehand (esp.

What is a antonym for provisions?

provision. Antonyms: neglect, misprovision, forgetfulness, thoughtlessness, oversight, destitution, want, dearth, starvation, dole, pittance. Synonyms: preparation, arrangement, produce, supply, anticipation, food, supplies, victuals, edibles, eatables.

Is potato a provision?

Typically, the vegetables that fall under the banner of ground provisions include yams, dasheen, sweet potatoes, eddoes, cassava and tannia. But when Caribbean people broadly speak of provisions, they tend also to mean green bananas, plantains and breadfruit.

What is provision example?

Examples of provisions include accruals, asset impairments, bad debts, depreciation, doubtful debts, guarantees (product warranties), income taxes, inventory obsolescence, pension, restructuring liabilities and sales allowances. Often provision amounts need to be estimated.

What is the difference between groceries and provisions?

Grocery store is a common term in American English (AE). Provision store is not idiomatic in AE, and sounds either foreign, or of another variety of English.

How are provisions treated in accounting?

In financial accounting, a provision is an account which records a present liability of an entity. The recording of the liability in the entity’s balance sheet is matched to an appropriate expense account in the entity’s income statement. The preceding is correct in IFRS.

How do you use provision in a sentence?

Provisions sentence examplesRoyal officials must pay for the corn and provisions which they take on behalf of the king. … The princess too had prepared provisions for Pierre’s journey. … There are a number of unusual provisions in the constitution of Nevada. … These provisions were later strengthened by Clement VII.More items…

What does it mean to provision a device?

The term provisioning for a device means to evolve a device to a state in which it can be handed off to an end-user, or end-user team, for their specific use in a functional manner. In general, provisioning means providing or making something available. The term is used in a variety of contexts in IT.

What does providing mean?

English Language Learners Definition of provide : to make (something) available : to supply (something that is wanted or needed) : to give something wanted or needed to (someone or something) : to supply (someone or something) with something.