Under IFRS, a Provision Is

question 91

Multiple Choice

Under IFRS, a provision is

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

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Definitions:

Chilopods

A class of arthropods known as centipedes, characterized by elongated bodies with a pair of legs per segmented body part.

Arachnids

A class of joint-legged invertebrate animals in the subphylum Chelicerata, including spiders, scorpions, ticks, and mites.

Phylogeny

The evolutionary history and relationship among species or groups of organisms, often illustrated as a tree-like diagram showing divergent lines of descent.

Ecdysozoans

A major group of invertebrate animals including arthropods and nematodes, defined by their shared trait of molting an exoskeleton (ecdysis).