Which of the Following Provisions Satisfy the Requirements to Be

question 51

Multiple Choice

Which of the following provisions satisfy the requirements to be recognised as a liability under AASB 137?

• A) provisions for repairs and overhauls
• B) provisions for warranties
• C) provisions for maintenance
• D) provisions for refurbishment costs

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Definitions:

Parameter

Numeric characteristic of a population.

Population

The entire aggregation of items or individuals from which samples can be drawn for statistical analysis.

Measure of Variability

A statistic that describes the degree to which scores in a distribution spread out or cluster together, such as range, variance, or standard deviation.

Statistic

A numerical measure that describes a characteristic of a sample derived from a larger population.