Quick Answer: How Do You Use The Word Provision?

What is a provision in a contract?

A contract provision is a stipulation within a contract, legal document, or a law.

A contract provision often requires action by a specific date or within a specified period of time.

Contract provisions are intended to protect the interests of one or both parties in a contract..

How do I calculate my current tax provision?

Provision for Income Tax is the tax that the company expects to pay in the current year and is calculated by making adjustments to the net income of the company by temporary and permanent differences which are then multiplied by the applicable tax rate.

Is reprovision a word?

Verb. (transitive) To supply with provisions again.

How do you use provision?

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 is the difference between groceries and provisions?

Grocery/groceries = items of food sold in a grocer’s shop such as flour ,sugar, tinned food etc. Green grocer = shopkeeper selling vegetables and fruit. Related usages : to the grocer/to the grocer’s = to the grocer’s shop.

What are the types of provision?

Types of provision in accountingRestructuring Liabilities.Provisions for bad debts.Guarantees.Depreciation.Accruals.Pension.

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.

Where are provisions on balance sheet?

If you have ever studied a balance sheet, you must have come across an item of provisions. It is listed on the liabilities side of the balance sheet.

What is the meaning of provision?

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. arrangement or preparation beforehand, as for the doing of something, the meeting of needs, the supplying of means, etc.

What is an example of a provision?

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 mean by provision store?

A provision is a store or supply of something, like food or clothing. This noun can also describe the planning you do for “when something happens.”

What is the verb of provision?

provisioned; provisioning\ prə-​ˈvi-​zhə-​niŋ , -​ˈvizh-​niŋ \ Definition of provision (Entry 2 of 2) transitive verb. : to supply with needed materials (such as food) : to supply with provisions.

What is the difference between provision and contingent?

The key difference between a provision and a contingent liability is that provision is accounted for at present as a result of a past event whereas a contingent liability is recorded at present to account for a possible future outflow of funds.

What means no provision?

n. 1 the act of supplying or providing food, etc. 2 something that is supplied or provided. 3 preparations made beforehand (esp. in the phrase make provision for)

What is the root word of provision?

from Latin provisionem (nominative provisio) “a foreseeing, foresight, preparation, prevention,” noun of action from past participle stem of providere “look ahead” (see provide). Meaning “something provided” is attested from late 15c.; specific sense of “supply of food” is from c. 1600. provision (v.)

How do I start a provision store?

How To start a Small Grocery Store in India (Full Business Plan)Draw Up a Business Plan. Prior to starting up your grocery store, you must draw up a business plan for it. … Target Market. … Select the Right location. … Setup cost of the Business. … Completion of legal Formalities and Obtaining Mandatory licenses. … Pricing of Goods. … Hire Sales Staff. … Get your Business GST Registered.More items…

What is divine provision?

Divine provision is provision for life. God’s purpose is that we should live life – His life – in all its fullness and abundance. The material and financial things of this world are simply the means to this end. They’re a tool to empower us, one small part of His divine provision.