Bill Ltd Will Have to Pay for Long Service Leave

question 26

Multiple Choice

Bill Ltd will have to pay for long service leave (LSL) for its employees when they become entitled to it in 5 years' time.The estimate of this future payment is a:

• A)provision to be recognised when they become entitled to the LSL (when there is a legal obligation to pay the LSL)
• B)a contingent liability to be recognised this year
• C)a contingent liability to be recognised when they become entitled to the LSL
• D)provision to be recognised this year

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