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Given the scenario, the factory has been incurring losses, and management expects this trend to continue, which indicates a present obligation. The expected losses are

Given the scenario, the factory has been incurring losses, and management expects this trend to continue, which indicates a present obligation. The expected losses are quantifiable ($30 million per year), satisfying the criteria for a reliable estimate. Therefore, a provision for the expected losses should be recognized. please paraphrase

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