On the Reporting of Liabilities Where a Range of Values

question 29

Multiple Choice

On the reporting of liabilities where a range of values exists as a possible outcome,IFRS require which of the following points to be recorded as a provision,if the outcome is probable?

• A)Low end of the range
• B)High end of the range
• C)Midpoint of the range
• D)IFRS present no specific guidance as to this point.

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Definitions:

Outcome Measures

Quantitative or qualitative indicators used to assess the effectiveness of treatment or intervention.

Counseling Treatment

A therapeutic practice that aims to help individuals overcome problems and issues, often through verbal communication with a trained professional.

Underrepresented Stakeholders

Individuals or groups that have a stake in the outcomes of projects or policies but whose perspectives and needs are often overlooked in decision-making processes.

Program Evaluation

The practice of critically assessing the procedures and outcomes of programs to ascertain their effectiveness and improve future implementations.