1.) To accrue a contingent liability means to-

A. do nothing

B. disclose estimates of the liability

C. report it as a footnote only

D. make an adjusting journal entry

2.) Under IFRS, if it is greater than ___ probability that an obligation is going to arise, and the amount can be estimated, then provision should be recorded by making a journal entry.

3.) If accounts payable turnover is 7.9, what is the days payable outstanding?