Under IFRS, a Liability Is Recorded If the Chance of Occurrence

question 55

Multiple Choice

Under IFRS, a liability is recorded if the chance of occurrence is

• A) likely.
• B) probable.
• C) unlikely.
• D) undeterminable.

---

Definitions:

Worker Safety

This term refers to the protocols, practices, and measures implemented to ensure the physical and psychological welfare of workers in their workplace.

OSHA

The Occupational Safety and Health Administration is an agency of the U.S. government tasked with maintaining safe and healthy conditions in workplaces.

Two-tail Test

A statistical hypothesis test in which the critical area of a distribution is two-sided and tests whether a sample is greater or less than a range of values.

Sample Variances

Statistical measurements that quantify the dispersion or spread of data points within a sample from their mean.