Question Description A business has been told by its lawyers that it is likely to have to pay $123,000 damages for a product that failed. The business duly set up a provision at 31 December 2019. However, the following year, the lawyers found that damages were more likely to be $333,000. Required how the provision is treated in the accounts at: i. 31 December 2019? ii. 31 December 2020?