In accordance with IAS 37 Provisions,Contingent Liabilities and Contingent Assets,which of the following is considered a contingent liability?
A)Guarantee provided by the parent entity on behalf of a solvent subsidiary.
B)Settlement of a legal case where the company is likely to be held liable for damages in court.
C)Best estimate of likely claims for warranty by customers.
D)Guarantee of an associate's bank overdraft where the associate has declared bankruptcy.

Question

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The Answer of In accordance with IAS 37 Provisions,Contingent Liabilities and Contingent Assets,which of the following is considered a contingent liability?
A)Guarantee provided by the parent entity on behalf of a solvent subsidiary.
B)Settlement of a legal case where the company is likely to be held liable for damages in court.
C)Best estimate of likely claims for warranty by customers.
D)Guarantee of an associate's bank overdraft where the associate has declared bankruptcy.

In Accordance with IAS 37 Provisions,Contingent Liabilities and Contingent Assets,which