The reason provided for discounting liabilities for future claims is that the liability represents the amount which,if set aside as at the reporting date,would accumulate to the amount of the claims as they are expected to fall due.

Name: The reason provided for discounting liabilities for future claims is that the liability represents the amount which,if set aside as at the reporting date,would accumulate to the amount of the claims as they are expected to fall due.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

The Answer is True

The Reason Provided for Discounting Liabilities for Future Claims Is