Question
Which of the following statements about provisions is/are correct? 1. A provision can only be made when there is a present obligation as the result
Which of the following statements about provisions is/are correct?
1. A provision can only be made when there is a present obligation as the result of a past event
2. Provisions are always made for both possible and probable contingent liabilities
Only statement 1 is correct
Only statement 2 is correct
Both statements are correct
Neither statement is correct
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Accounting And Finance For Non Finance Managers
Authors: Jai Kumar Batra
1st Edition
9352806964, 978-9352806966
