IFRS Uses Specific Terminology to Refer to the Likelihood of the Occurrence

question 39

Multiple Choice

IFRS uses specific terminology to refer to the likelihood of the occurrence of an organizational event. Which of the following would require note disclosure in the financial statements adjusted?

• A) likely to occur and the amount can be estimated
• B) possible that an outflow of resources is not required
• C) likelihood is remote
• D) amount is yet to be confirmed