Under AASB 119,the Recognition Criteria for Liabilities for Profit Sharing

question 6

Multiple Choice

Under AASB 119,the recognition criteria for liabilities for profit sharing and bonus plans is:

• A) It is probable the liability will be settled and the amount of the liability can be measured consistently
• B) It is reasonably certain the liability will be settled
• C) It is probable the liability will be settled
• D) The entity has a present legal or constructive obligation to settle the liability, and the amount of the liability is capable of being measured reliably

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Definitions:

Insecurely Attached Infants

Infants who exhibit anxiety or avoidant behavior when separated from their caregivers, indicating a lack of secure attachment.

Anxiety

A feeling of worry, nervousness, or unease about something with an uncertain outcome.

Avoidance

A behavioral response aimed at escaping or evading a perceived unpleasant, painful, or threatening situation, object, or subject.

Conservation

In environmental terms, it refers to the protection, preservation, management, or restoration of natural environments and the ecological communities that inhabit them.