In the Recognition Criteria for Liabilities with Uncertain Amount And/or

question 64

Multiple Choice

In the recognition criteria for liabilities with uncertain amount and/or timing, "probable" is used in U.S.GAAP to refer to a threshold of likelihood-a rule of thumb used in practice is approximately _____ In IFRS, "probable" as recognition criterion for liabilities with uncertain amount and/or timing means approximately _____.

• A)33%; 25%
• B)51%; 51%
• C)60%; 25%
• D)80%; 51%
• E)90%; 75%

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Definitions:

IDs

Acronym for "identification cards," documents or cards that certify the identity of the bearer.

Trumpet

A brass musical instrument with a flared bell and a bright, penetrating tone, played by blowing into a small mouthpiece.

Topic Sentence

A sentence that expresses the main idea of a paragraph, often positioned at the beginning.

Pyrotechnics

Pyrotechnics refers to the science and art of creating firework displays and other related pyrotechnic effects used in performances and celebrations.