According to the Exposure Draft of Proposed Amendments to IAS

question 69

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 "provisions" is being considered for elimination.
• D) a conditional obligation related to an unconditional obligation is not recognized.

---

Definitions:

Noteworthy Issues

Topics or problems that are of significant importance or interest, meriting attention and action.

Problem-Solving Skills

The ability to find solutions to difficult or complex issues, crucial for effective leadership and management.

Forecasting

The process of making predictions based on past and present data, often used in planning and decision-making.

Executing A Plan

The process of putting a strategic plan into action to achieve the desired goals or objectives.