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Discourse about the Provision of Money was created in 1502.
The provision of budget authority that becomes available for obligation in the last quarter of a fiscal year and remains available during the following fiscal year. That form of funding typically finances ongoing education grant programs.
Call Provision
Provisions and Reserves are the amount setaside out of profits. When the amount is set aside for a particular purpose it is called a provison. Examples for this is Provision for Baddebts and provision for Depreciation and Provision for Discounts on Debtors. when the amount is setaside for particular purpose is called a provision whereas Reserve is the amount setaside out of profit but not for particular purpose. In most cases provision is incorrectly described as Reserve. One cannot create Reserve for baddebts.
Insurance provision means the conditionality to be adhered to by both the insured and the insurer,as embedded in an insurance policy bond.