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:

Hypothesis

A proposed explanation for a phenomenon, made as a starting point for further investigation, which can then be tested through experimentation or observation.

Elementary School

An educational institution for children that provides the first stage of compulsory education.

Hypothesis

A proposed explanation for a phenomenon, set forth as a basis for further investigation.

Opinion

A personal view, attitude, or appraisal formed about something, not necessarily based on fact or knowledge.