Y2 Question 7 A provision against future events should not be made when: A The event is
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Y2
Question 7 A provision against future events should not be made when: A The event is more likely than not to occur. B It is probable that a transfer of economic benefit will be necessary to meet an obligation. There is uncertainty over the extent of the likely obligation. An organisation has a present liability for past events.
Related Book For
Intermediate Accounting
ISBN: 978-0132162302
1st edition
Authors: Elizabeth A. Gordon, Jana S. Raedy, Alexander J. Sannella
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