When a Contingency Must Be Accrued Under IFRS, the Charge

question 87

Multiple Choice

When a contingency must be accrued under IFRS, the charge is referred to as

• A)an extraordinary loss
• B)a provision
• C)an appropriation
• D)a risk expense

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Definitions:

Log(x)

Represents the logarithm of a number x, typically in base 10 or base e (natural logarithm), used in mathematics and programming.

Black Box

A system or component whose internal workings are hidden or not understood, with focus only on the input and output.

Arguments

Values or variables passed to a function or procedure when it is called.