According to AASB 131,a venturer must separately disclose,unless the probability of loss is remote,the aggregate of which of the following contingent liabilities?
A) those contingent liabilities arising because the venturer is contingently liable for the liabilities of the other venturers of a joint venture
B) the venturer's share of the contingent liabilities of the joint ventures themselves for which it is - contingently liable
C) any contingent liabilities the venturer has incurred in relation to its interests in joint ventures and its share in each of the contingent liabilities incurred jointly with other venturers
D) all of the above
Correct Answer:
Verified
Q2: Which of the following statements is incorrect?
A)jointly
Q3: The major factors to consider in distinguishing
Q4: Which of the following statements is correct?
A)one
Q5: A contractual arrangement whereby two or more
Q6: The usual distinguishing features of joint ventures
Q8: Which of the following statements is incorrect?
A)each
Q9: The broad types of joint ventures identified
Q10: The method that results in the venturer's
Q11: Which of the following statements is correct
Q12: The disadvantage of the one- line method
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