What Is The Meaning Of Provision

Provision is a term used to describe the process of preparing for and making something available. It can refer to anything from supplies and equipment needed for a job to financial resources for a project. Provisions are generally set out ahead of time in order to ensure that the necessary steps have been taken for success. In this article, we will examine the meaning of provision, relevant FAQs, and a conclusion.

Table Of Content:

• Provision Definition & Meaning - Merriam-Webster
• PROVISION | meaning in the Cambridge English Dictionary
• Provision Definition & Meaning | Dictionary.com
• PROVISION | definition in the Cambridge English Dictionary
• What is a provision for income tax and how do you calculate it?
• Provision - Definition, Meaning & Synonyms | Vocabulary.com
• Loan Loss Provision Definition
• Provision (accounting) - Wikipedia
• General Provisions Definition
• 21 Synonyms & Antonyms for PROVISION | Thesaurus.com

What is the definition of provision?

Provision is defined as the preparation or arrangement made beforehand or prior to an event. It usually refers to providing supplies or resources that are necessary in order for something to be accomplished or successfully completed.

What types of things are considered provisions?

Anything that is necessary for a successful outcome can be considered a provision. This could include supplies, materials, equipment, financial resources, etc., depending upon what it is that needs to be provided in order for something else to take place. For example, if a company needs office furniture in order to run its operations effectively, then providing furniture would be an example of a provision.

How does provision apply in legal settings?

Provision can also refer to agreements made between parties regarding rights and responsibilities in advance of potential issues arising from an agreement or contract that may require resolution at some point down the road. By establishing clear provisions up front, it often makes it easier and less costly should any disputes arise between parties involved in a contract.

When should provisions be established?

Ideally, provisions should be established when there is an expectation that something may happen at some point later on down the line that may need addressing by all parties involved. Establishing these rules ahead of time prevents any misunderstandings when such events occur and ensures that everyone knows their rights and obligations going forward with regard to any particular situation or contractual agreement they are party too.

Conclusion:
. [END] Q: What is the definition of provision? A: Provision is defined as the preparation or arrangement made beforehand or prior to an event. It usually refers to providing supplies or resources that are necessary in order for something to be accomplished or successfully completed. [END] Q: What types of things are considered provisions? A: Anything that is necessary for a successful outcome can be considered a provision. This could include supplies, materials, equipment, financial resources, etc., depending upon what it is that needs to be provided in order for something else to take place. For example, if a company needs office furniture in order to run its operations effectively, then providing furniture would be an example of a provision. [END] Q: How does provision apply in legal settings? A: Provision can also refer to agreements made between parties regarding rights and responsibilities in advance of potential issues arising from an agreement or contract that may require resolution at some point down the road. By establishing clear provisions up front, it often makes it easier and less costly should any disputes arise between parties involved in a contract. [END] Q: When should provisions be established? A: Ideally, provisions should be established when there is an expectation that something may happen at some point later on down the line that may need addressing by all parties involved. Establishing these rules ahead of time prevents any misunderstandings when such events occur and ensures that everyone knows their rights and obligations going forward with regard to any particular situation or contractual agreement they are party too.[END] Conclusion: In conclusion, provision is an important concept related to providing what is necessary ahead of time so as not to encounter surprises when encountering unexpected circumstances down the line. Establishing clear provisions helps all parties understand their rights and responsibilities while ensuring they have access needed resources whenever they require them.