According to IAS 37, with Respect to Onerous Contracts, a Provision

question 4

Multiple Choice

According to IAS 37, with respect to onerous contracts, a provision should be recognized for "unavoidable costs of the contract", which is:

• A) the intrinsic value of the contract.
• B) the lower of cost or market value of the contract.
• C) the lower of cost of fulfillment or the penalty from non-fulfillment of the contract.
• D) None of the above

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Definitions:

Cholesterol

A type of fat found in blood that is essential for creating cell membranes and certain hormones.

Essential Amino Acid

Amino acid, required by animals, that must be supplied in the diet.

Diet

The sum of food consumed by an organism or group, affecting health and nutrition.

Antioxidants

Substances that can prevent or slow damage to cells caused by free radicals, unstable molecules that the body produces as a reaction to environmental and other pressures.