How should the amount of a provision be set when the time value of money is material?
A) As the present value expected to settle an obligation,with expenditures discounted at a pre-tax rate that reflects current market assessments of the time value of money and the specific risks
B) As the future value expected to settle an obligation,with expenditures discounted at a pre-tax rate that reflects current market assessments of the time value of money and the specific risks
C) As the present value expected to settle an obligation,with no discount of expenditures
D) As the future value expected to settle an obligation,with no discount of expenditures
Correct Answer:
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Q1: IAS 37 deals with situations where obligations
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
Q10: Which is IAS 37's correct definition of
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