Examlex

Solved

A Briefly Define a 'Contingency

question 4

Essay

a Briefly define a 'contingency'.
b What are the main requirements of NZ IAS 37 in regard to disclosure of contingencies,and why are they disclosed?


Definitions:

Face Value

The nominal or dollar value printed on a security, such as a bond or stock, representing its official worth.

Quoted Price

The ongoing price tag attached to buying or selling a service or asset.

Selling Price

The amount of money a customer pays to purchase a product or service.

Market Interest Rate

The prevailing rate of interest available in the marketplace for securities of similar risk and maturity.

Related Questions