Which of the Following Statements Is Correct

question 69

Multiple Choice

Which of the following statements is correct?

• A) Under IFRS, contingencies may be accrued, but not under ASPE.
• B) Litigation for which the company will probably be found guilty would normally be accrued as a provision.
• C) Under IFRS, content gains should be recognized if they are reasonably certain to occur.
• D) A contingency is more likely to require an accrual than a provision.

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Definitions:

Eye Doctor

A medical professional specializing in the diagnosis and treatment of eye conditions and diseases; can refer to an optometrist or ophthalmologist.

Audio Books

Recorded readings of books, which can be listened to on various devices, offering an alternative to traditional reading.

Glare-free Light

Lighting designed to minimize harsh reflections and brightness, often used to create environments comfortable for the eyes.

Extremely Dry Skin

A condition characterized by a severe lack of moisture in the outer layer of the skin, resulting in flakiness, itching, and sometimes cracking.