PROVISION Definition

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PROVISION, generally, is to prepare in advance for an event that is projected to take place in the future. In accounting, it is an amount charged against profits for a specific liability (for example: bad debts, depreciation or taxes). A liability may be known, but the amount is often uncertain. This uncertainty may lead to an adjustment in a later income statement once the final amount of the liability is ascertained.

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GADFLY slang for a securityholder who owns stock in various companies, attends annual meetings only to ask senior management hard and often embarrassing questions.

NON-INTEREST INCOME, in securities, is comprised of service fees and trading and other income, excluding gains/losses on securities transactions.

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