Which of the Following Statements Is Correct

question 9

Multiple Choice

Which of the following statements is correct?

• A) For companies that are self-insured, a provision must be established for events taking place prior to the reporting period if known.
• B) There is no guidance for self-insurance under IFRS.
• C) Contingent assets are only recorded when it is virtually certain that the benefits relating to the contingent assets will be received.
• D) Contingent assets are only recorded when it is reasonably certain that the benefits relating to the contingent assets will be received.

---

Definitions:

Oral Histories

The collection and study of historical information using audio recordings of interviews with people having personal knowledge of past events.

Spiritual Organizational Culture

A culture within an organization that prioritizes and integrates employees' spiritual values and practices in the workplace.

Meaningful Purpose

An underlying intention or goal that provides significance and direction to an individual's or organization's actions.

Ethics And Social Responsibility

The principles of moral conduct and obligations that a business or individual should consider in their practices and decision-making to benefit society.