According to the Exposure Draft of Proposed Amendments to IAS 37, Provisions, Contingent Liabilities and Contingent Assets,
A)only conditional obligations are recorded.
B)liabilities must have measurement certainty.
C)the term "contingent liabilities" is eliminated.
D)a conditional obligation related to an unconditional obligation is not recognized.

Question

Quizplus · Accepted Answer

The Exposure Draft proposed to eliminate the term "contingent liabilities" to clarify the distinction between liabilities and contingent liabilities.