Under IFRS, the Term Provision

question 151

Multiple Choice

Under IFRS, the term provision:

• A) Means establishing an asset account.
• B) Refers to expense.
• C) Means establishing a provision for bad debts.
• D) Means establishing a contra-asset account.
• E) Usually refers to a liability whose amount or timing is uncertain.

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Definitions:

Urine Output

The amount of urine produced by the kidneys and excreted by the body, an important measure in assessing kidney and overall fluid balance status in patients.

Medicated IV

Intravenous delivery of medication, where drugs are administered directly into the veins for fast absorption and effect.

Subclavian Central Venous Catheter

A medical device inserted through the subclavian vein used for administering medications, nutrients, fluids, or for drawing blood.

Bibasilar Crackles

Abnormal sounds heard in the lower lung fields during auscultation, often indicating fluid accumulation or infection in the lungs.