provision
Pronunciation:
/pɹəˈvɪʒ.ən/noun
Definitions
An item of goods or supplies, especially food, obtained for future use.
The act of providing, or making previous preparation.
Money set aside for a future event.
A liability or contra account to recognise likely future adverse events associated with current transactions.
Example: We increased our provision for bad debts on credit sales going into the recession.
verb
Definitions
To supply with provisions.
Example: to provision an army
To supply (a user) with an account, resources, etc. so that they can use a system.