Which if the following statements relating to the measurement of a provision are valid? I. Gains from the expected disposal of an asset shall be taken into account. II. The risks and uncertainties that inevitably surround many events and circumstances shall be considered in making the best estimate. III. The amount of the provision should be present value of the expenditure expected to settle the obligation. IV. Future events that may affect the settlement of a provision shall be reflected in the provision where there is objective evidence that the future events will occur.

a. I, II and III only b. II, III and IV only c. II and III only d. II and IV only