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10. Under new legislation, Fastrain Co is required to train and certify as competent its train drivers of new high-speed trains by 30 September 20X0.
10. Under new legislation, Fastrain Co is required to train and certify as competent its train drivers of new high-speed trains by 30 September 20X0. At 31 December 20X0, 25 drivers had not been trained nor certified. The training took place in February 20X1 at a cost of $2,000 per driver. The fines accruing at 31 December 20X0 for non-compliance were $10,000 per driver. What provision should be made in accordance with IAS 37 Provisions, Contingent Liabilities and Contingent Assets at 31 December 20X0? O $nil O $50,000 $250,000 O $300,000
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