Which of these is not a contingent liability?
A) The obligation a transport company may face to clean up an environment if a cargo they transport causes contamination after a road accident.
B) The obligation the transport company faces to clean up their local environment ,which could be settled by staff volunteering at weekends to help with the clean-up of rubbish from their building works
C) The obligation the transport company faces to clean up a coastal environment where a dangerous cargo has spilled into the ocean,where the level of damage has not yet been determined
D) The obligation the transport company faces to restore a wall which was accidentally demolished during an accident.
Correct Answer:
Verified
Q1: IAS 37 deals with situations where obligations
Q2: How should the amount of a provision
Q3: Which of these best describes the requirement
Q4: IAS 37 was introduced to reduce creative
Q5: If the conditions for a provision are
Q6: IAS 37 covers accounting for provisions,contingent liabilities
Q8: IAS 37 requires a contingent liability to
Q9: Provisions are measured after the effect of
Q10: Which is IAS 37's correct definition of
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