On the Reporting of Liabilities Where a Range of Values

question 28

Multiple Choice

On the reporting of liabilities where a range of values exists as a possible outcome, IFRS requires which of the following points to be recorded as a provision, if the outcome is probable?

• A) Low end of the range.
• B) High end of the range.
• C) Midpoint of the range.
• D) IFRS presents no specific guidance as to this point.

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Definitions:

Potential Employers

Organizations or individuals who may offer employment opportunities, often sought after by job seekers to find suitable work positions.

Knowledge Base

A centralized repository for information and data that provides an avenue for collecting, organizing, and retrieving knowledge to solve problems.

Digital Media

Content or components that are stored in a digital format and can be transmitted over the internet or computer networks.

New Software

A term referring to recently developed or released computer programs or applications.