A necessary condition to recognise a present obligation in the financial statements is that the identity of the party to whom the present obligation is owed must be known.
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Q2: A discount on debentures issued arises when
Q3: In accordance with AASB 137 Provisions,Contingent Liabilities
Q4: In a constructive obligation where the entity
Q5: Under AASB 101 something may be classified
Q6: A guarantee provided to a financier for
Q7: Entities are only required to record a
Q8: The defining characteristic of a 'provision' as
Q9: The market will only pay a premium
Q10: Provisions are established to allow for future
Q11: In AASB 137 Provisions,Contingent Liabilities and Contingent
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