Under IFRS all of the following liabilities are reflected under the current liabilities section of the balance sheet except for:
A)Warranty liability
B)Contingent liability
C)Deferred Revenues
D)Constructive obligations

Question

Quizplus · Accepted Answer

While warranty liabilities, deferred revenues and constructive obligations are all current liabilities that are required to be reflected on the balance sheet under IFRS, contingent liabilities are not recognized as liabilities unless they meet certain criteria. Instead, contingent liabilities are generally disclosed in the notes to the financial statements.

Under IFRS All of the Following Liabilities Are Reflected Under