A provision should be recorded in the accounts when: a. it is probable the cash outflow will
Question:
A provision should be recorded in the accounts when:
a. it is probable the cash outflow will happen, but the amount cannot be reliably estimated.
b. it is possible the cash outflow will happen, and the amount can be reliably estimated.
c. it is probable the cash outflow will happen, and the amount can be reliably estimated.
d. it is possible the contingency will happen, but the amount cannot be reliably estimated.
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The provision should be recorded in the accounts when c ...View the full answer
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Related Book For 
Financial Accounting With International Financial Reporting Standards
ISBN: 9781119787051
5th Edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
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