A necessary condition for a provision to be recognised is that there is a legal obligation to make a future sacrifice of economic benefits

Name: A necessary condition for a provision to be recognised is that there is a legal obligation to make a future sacrifice of economic benefits
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Question

Quizplus · Accepted Answer

A provision can be recognized based on either a legal obligation or a constructive obligation, where a company has created a valid expectation that it will undertake certain responsibilities.

A Necessary Condition for a Provision to Be Recognised Is