Which of the Following Is a Standard of Recognition of Contingent

question 11

Multiple Choice

Which of the following is a standard of recognition of contingent liabilities required by IFRS:

• A)recognize the liability if the occurrence of the future event is likely meaning it is highly probable.
• B)recognize the liability if the occurrence of the future event is more likely than not meaning its probable and it is also measurable.
• C)does not require that it be measurable.
• D)Recognize the liability if the occurrence of the future event is certain

Understand age stratification and its implications on society.

Analyze the causes and consequences of an aging population in the United States.

Understand theories explaining gender role development and gender identity formation.

Recognize the impact of biological, psychological, and social factors on gender identity and roles.

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Definitions:

Externality Problems

Situations in economics where the actions of individuals or businesses have effects, either positive or negative, on unrelated third parties that are not reflected in the cost or benefit of the actions.

Social Welfare

A holistic measure of the well-being and quality of life of individuals and groups within a society.

Rights To Pollute

Permits or allowances that grant entities the authorization to emit certain amounts of pollutants, often used in regulatory systems to control environmental damage.

Coase Theorem

The Coase Theorem postulates that if property rights are well-defined and transaction costs are low, parties will negotiate privately to correct externalities and allocate resources efficiently.