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1. i) Discuss the characteristics of a provision. ii). Define a constructive obligation. iii). Explain at what point would a contingent liability become a provision.
1. i) Discuss the characteristics of a provision. ii). Define a constructive obligation. iii). Explain at what point would a contingent liability become a provision. iv). Explain how a borrowing cost could arise as part of the measurement of a provision. Illustrate your explanation with a simple examp
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