Meaning of Provision for warranties
How we at Bookkeeping Support Define the Meaning of Provision for warranties:
The cost of honouring warranty claims for goods or services delivered to customers is referred to as the provision for warranties.
How AI Define the Meaning of Provision for warranties:
Provision for warranties refers to the estimated cost of providing product warranties and related services to customers, which is recorded as an expense in the period when the product is sold.
