What is the meaning of provision?

Answer Provision is one of those terms that has multiple meanings that can be taken from a dictionary. For the most part, the word provision has something to do with food or supplies stored for a particul... Read More »

Top Q&A For: What is the meaning of provision

What is a clawback provision?

A clawback provision is an arrangement in a contract that mandates that something (usually money) be given back upon the happening of a certain event or condition. These provisions are used, genera... Read More »

What is a statutory provision?

A statutory provision is a clause in a statute that provides for a specific matter, according to the online legal dictionary,TransLegal. For example, the state of Minnesota has a statutory provisio... Read More »

What is a deeming provision?

A deeming provision, simply put, is a clause in case law that allows the court to make an assumption so proceedings can continue. For example, the court can make an assumption through a deeming pro... Read More »

What is provision for depreciation?

Provision for depreciation is an immensely important concept for accounting and tax purposes. With the passage of time, the value of assets, such as machinery, goes down, and, therefore, they have ... Read More »