The requirement of IAS 37/AASB 137 that a provision must satisfy the definition of a liability means which of these is not regarded as a liability?
A) Provision for onerous contracts
B) Provision for doubtful debts
C) Provision for warrantee expenses
D) Provision for long-service leave
Correct Answer:
Verified
Q1: Under the Conceptual Framework 'probable' in the
Q2: The key characteristic of contingent liabilities is:
A)
Q3: The key difference between provisions and liabilities
Q4: Which of these are contingent liabilities?
I. A
Q6: What are the essential characteristics of a
Q7: Which of these is not normally regarded
Q8: A bank loan for $100 000, taken
Q9: A current liability is:
A) a liability expected
Q10: Which of these is not an essential
Q11: Contingent liabilities are disclosed in financial reports:
A)
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