Which of the following is a required disclosure for a provision?
A) An explanation of the nature of the obligation
B) Information about the timing of Cash Flows
C) Any assumptions made
D) All of the above

Question

Quizplus · Accepted Answer

All of the choices listed are required disclosures for a provision. An explanation of the nature of the obligation, information about the timing of cash flows, and any assumptions made are all necessary to fully understand the provision's impact on the financial statements.

Which of the Following Is a Required Disclosure for a Provision