Under IFRS, a Provision Is

question 74

Multiple Choice

Under IFRS, a provision is

• A) a special fund set aside to pay long-term debt.
• B) unearned revenue.
• C) a liability of uncertain timing or amount.
• D) an allowance for future dividends to be paid.

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Definitions:

Financialized

A term describing how financial markets, financial institutions, and financial elites gain greater influence over economic policy and economic outcomes.

Financial Activities

These involve transactions related to the management, investment, transfer, and expenditure of money by individuals, businesses, and governments.

Lending

The act of providing funds to another party with the expectation that the funds will be repaid, often with interest, at a later date.

Corporate Codes

Policies or guidelines established by companies to dictate behavior, ethics, and responsibilities within the corporate environment.