AASB 137 requires provisions to be recognised when:

I there has been a past event.

II an entity has a present obligation.

III the amount of the obligation can be reliably estimated.

IV it is possible that an outflow of resources will be required to settle the obligation

Select one:

A.

I, II and IV

B.

I, II and III

C.

I, III and IV

D.

II, III and IV