An amount set aside out of profit for a specific purpose is a? By: Sunday|Published on: Apr 7|Categories: Accounting WAEC| 0 comments A. reserve B. liability C. provision D. discount Correct Answer: Option A – reserve Users Also Read These:The amount set aside out of profit for a specific…The amount by which assets exceed specific…What amount is to be credited to the profit and loss…The amount of a company's profit given to a…If the amount of dividend paid varies according to…SEE ALSO What is the profit available for distribution?