The term 'probable' is described in AASB Framework as meaning that the chance of the future economic benefits arising is more likely rather than less likely:
Correct Answer:
Verified
Q1: If an asset's carrying amount is less
Q7: AASB 116 Property,Plant and Equipment allows both
Q9: Advertising expenditures are typically expensed as incurred
Q12: The AASB Framework allows use of different
Q13: For an asset to be recognised it
Q13: AASB 101 "Presentation of Financial Statements" requires
Q14: The description of 'probable' in the AASB
Q17: Current generally accepted accounting practices require one
Q21: The classification of assets into current or
Q22: Under AASB 101 the classification of assets
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents