For the IASB,a provision should be recognized when:
A) An entity has a present obligation as a result of a past event.
B) It is probable that an outflow of resources embodying economic benefits will be required to settle the obligation.
C) A reliable estimate can be made of the amount of the obligation.
D) All of these.
Correct Answer:
Verified
Q1: Quasi-liabilities are obligations for which of the
Q3: Which of the following items is not
Q4: What is the term used for the
Q5: Contingent liabilities are recognized in the balance
Q6: Which of the following examples does not
Q7: In which way(s)may the settlement of a
Q8: Which of the following statements is not
Q9: A provision is an obligation that could
Q10: A business's financing needs come essentially from:
A)
Q11: Given the following data:
What is recorded in
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents