provision (B2)

noun

Pronunciation: /prəˈvɪʒn/

Definition

An amount of money that a company or organization sets aside to cover expected future costs or losses, or to meet a known liability.

Examples

• The bank set aside a significant provision for bad debts.

• An increase in the provision for pensions was announced.

• The company's financial statements included a provision for restructuring costs.

How to Use provision

provision for (prepositional phrase)

A supply or amount of something needed for a particular situation or purpose. — "The budget includes a provision for unexpected repairs."

make provision for (phrasal verb)

To prepare for something by making supplies or money available. — "They made provision for their retirement years."

Synonyms of provision

Words with a similar meaning to provision:

• allowance
• reserve
• appropriation
• earmarking

Antonyms of provision

Words with the opposite meaning to provision:

• expenditure
• disbursement

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