Under IFRS,which of the Following Will Only Require Only a Note

question 3

Multiple Choice

Under IFRS,which of the following will only require only a note disclosure as a contingency?

• A) Cash discounts given for early payment by customers; almost always taken
• B) Remote chance of loss from a lawsuit in process
• C) Probable claim for an income tax refund
• D) Loss from an investment in equity securities that is certain

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Definitions:

Bacterial Pathogens

Bacterial pathogens are bacteria that can cause diseases in their host organisms, including humans, animals, and plants.

Tuberculosis

A contagious bacterial infection caused by Mycobacterium tuberculosis, affecting mainly the lungs but can spread to other organs.

Antibiotics

Medicinal substances used to kill or inhibit the growth of bacteria, crucial for treating bacterial infections.

Scientific Theory

A well-substantiated explanation of some aspect of the natural world, based on a body of facts that have been repeatedly confirmed through observation and experimentation.