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Firms Do Not Recognize Certain Obligations That Are Uncertain as to Amount

question 216

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Firms do not recognize certain obligations that are uncertain as to amount or timing or both as liabilities, unless those items meet a probability threshold and have a reliable measurement attribute.IFRS refers to these as _____, such as the possible obligation under an unsettled lawsuit.


Definitions:

Outer Block

The scope in programming that surrounds and contains an inner block or blocks of code.

System.out.println

A method in Java that outputs a line of text to the console or standard output.

System.out.println

A method in Java that prints a line of text to the console.

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