Which of these best describes the requirement of IAS 37 for review and adjustment of provisions?
A) Provisions do not need review or adjustment
B) Provisions should be reviewed at each balance sheet date,but do not need adjustment if the difference is below 10% of the total value
C) Provisions should be reviewed monthly and be adjusted accordingly
D) Provisions should be reviewed at each balance sheet date,and be adjusted accordingly
Correct Answer:
Verified
Q1: IAS 37 deals with situations where obligations
Q2: How should the amount of a provision
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
Q10: Which is IAS 37's correct definition of
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