The Term "Provision" as It Is Used in IAS 37

question 40

Multiple Choice

The term "provision" as it is used in IAS 37, is most closely related to what term in U.S. GAAP?

• A) Contingent liability, where the outflow of resources is "remote."
• B) Contingent liability, where the outflow of resources is "probable."
• C) Current liability, where the outflow is difficult to measure.
• D) Reserve for bad debt, where the amount recoverable is "uncertain."

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Definitions:

Peer Antisocialism

Behaviors exhibited by peers that are hostile, disruptive, or violating of societal norms, often influencing others negatively.

Reactive Aggression

A form of aggression that is displayed in response to perceived threats or frustration.

Relational Aggression

A form of aggression in which harm is caused through manipulation or damage to relationships or social standing, rather than physical violence.

School Attendance

The act of being present at school during scheduled classes or activities.