For Each Class of Provision, AASB 137 Provisions, Contingent Liabilities

question 7

Multiple Choice

For each class of provision, AASB 137 Provisions, Contingent Liabilities and Contingent Assets requires an entity to disclose the following information: I Comparative information.
II Unused amounts reversed during the period.
III Additional provisions made during the period.
IV The carrying amount at the beginning and end of the period.
V A brief description of the nature of the obligation and the expected timing.

• A) I, II, and III only.
• B) II, III, IV and V only.
• C) II, III and IV only.
• D) I, III, IV and V only.

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Definitions:

Sentence

A sentence is a set of words that is complete in itself, typically containing a subject and predicate, conveying a statement, question, exclamation, or command.

Dangling Modifier

A word or phrase that modifies a word not clearly stated in the sentence, often leading to confusion or ambiguity.

Misplaced Modifier

A grammatical error where a modifier (word, phrase, or clause) is placed incorrectly, leading to ambiguity or confusion in a sentence.

Incomplete Construction

A phrase or sentence that lacks necessary components, making it grammatically incorrect or unclear.