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:

Resources

Resources are materials, goods, or services that organisms utilize for survival, growth, and reproduction, including food, water, and shelter.

Socio-ecological Framework

An analytical approach considering the interactions between social behavior and ecological environment in understanding species' dynamics.

Female Defense Polygyny

A mating system where males guard multiple females to ensure exclusive mating access, often seen in animals with defendable, clustered females.

Resources

Natural or man-made assets that organisms utilize for survival, including food, water, territory, and mates.