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Is Provision for income taxes a current asset or liability?

Anonymous

∙ 15y ago

Updated: 11/6/2022

Provisions are defined as liabilities of uncertain timing and amount.

2 types of provisions

1. provision that are in the nature of liabilities ( eg provision for warranty)

2. provisions that are in the nature of asset valuation ( eg provision for doubtful debt)

Wiki User

∙ 15y ago

What else can I help you with?

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