Which is IAS 37's correct definition of a 'probable' outflow?
A) A probable outflow is the outflow which is more likely to happen than any other individual possible outcome
B) A probable outflow is any outflow which has a reasonable chance of happening ie a greater than 30% probability.
C) A probable outflow is an outflow which is more likely to happen than all other outcomes combined,i.e.a 51% probability.
D) A probable outflow is an outflow which has any chance of happening
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
Q7: Which of these is not a contingent
Q8: IAS 37 requires a contingent liability to
Q9: Provisions are measured after the effect of
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