According to the Exposure Draft of Proposed Amendments to IAS

question 29

Multiple Choice

According to the Exposure Draft of Proposed Amendments to IAS 37, Provisions, Contingent Liabilities and Contingent Assets,

• A)only conditional obligations are recorded.
• B)liabilities must have measurement certainty.
• C)the term "contingent liabilities" is eliminated.
• D)a conditional obligation related to an unconditional obligation is not recognized.

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Definitions:

Emissions

The release of pollutants into the air, water, or soil, often cited in discussions about environmental impact and climate change.

Sustainability

The practice of conducting business in a way that is environmentally responsible and resource-efficient, aiming to reduce the environmental impact and ensure long-term ecological balance.

Supply Chain Surplus

The difference between the value generated by the final product and the costs incurred in making the product available in the market, indicating overall supply chain efficiency.

Emissions Tax

A tax imposed on companies based on the amount of pollution their operations emit, aimed at encouraging environmentally friendly practices.