Under IFRS, which of the following is used to measure a liability, if a range of estimates is predicted and no amount in the range is more likely than any other amount in the range?

Question

Quizplus · Accepted Answer

If a range of estimates is predicted and no amount in the range is more likely than any other amount in the range, IFRS requires the use of the mid-point of the range to measure the liability. This is because using the minimum or maximum of the range would not be representative of the actual liability and using the average would not reflect the probability of each amount occurring.

Under IFRS, Which of the Following Is Used to Measure