Under IFRS, the Term Used for an Uncertain Liability Is

question 47

Multiple Choice

Under IFRS, the term used for an uncertain liability is

• A) contingent liability.
• B) undeterminable liability.
• C) provision.
• D) estimated liability.

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Definitions:

Saturated

Describes a chemical compound, typically a fat, that contains no double bonds between carbon atoms, allowing it to hold a maximum number of hydrogen atoms.

Carbon Atoms

Carbon atoms are the fundamental building blocks of organic molecules, characterized by their ability to form up to four covalent bonds with other atoms, including other carbon atoms.

Single Bonds

Chemical bonds involving the sharing of one pair of valence electrons between two atoms.

Fats

Organic compounds made of fatty acids and glycerol, serving as a major energy storage form in organisms.