*PROVISION LIABILITY (IFRS A new product liability lawsuit was files related to the drug of the Pharmacy, the attorney's asses the likelihood and allows the company to record a loss under IFRS. If the range of estimates is between $30,000 and $50,000. How the company accounted this transaction under IFRS 1. A new product liability lawsuit was files related to the drug of the Pharmacy, the attorney's asses the likelihood of losing of 10%. The attorney assessment is between $10,000 and $50,000. a. How the company accounted this transaction under IFRS. 2. b. The answer will be difference under US GAAP. Explain your answer. Note: Under US GAAP the equivalent term is CONTINGENCY LIABILITY