The Term 'Probable' Is Described in the AASB Framework as Meaning

question 36

True/False

The term 'probable' is described in the AASB Framework as meaning that the chance of the future economic benefits arising is more likely rather than less likely.

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Definitions:

Intuition

An effortless, immediate, automatic feeling or thought, as contrasted with explicit, conscious reasoning.

Gut-Level

A colloquial term describing a reaction or feeling that is instinctual or based on deep-seated intuition rather than rational analysis.

Dishonest Politician

A political figure who engages in deceitful or fraudulent practices.

Intuitions

Intuitions are immediate understandings, knowledge, or beliefs that come without the need for conscious reasoning.