Which of the Following Is a Standard of Recognition of Contingent

question 31

Multiple Choice

Which of the following is a standard of recognition of contingent liabilities required by IFRS:

• A)recognize the liability if the occurrence of the future event is likely meaning it is highly probable.
• B)recognize the liability if the occurrence of the future event is more likely than not meaning its probable.
• C)does not require that it be measurable.
• D)Recognize the liability if the occurrence of the future event is certain

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Definitions:

Low-Birth-Weight

Refers to babies born with a weight of less than 2,500 grams (5 pounds, 8 ounces), often associated with higher risks of health issues.

Folic Acid

A B-vitamin essential for healthy cell growth and development, particularly important for pregnant women to prevent birth defects.

Leafy Vegetables

A category of vegetables that includes plants with edible leaves such as spinach, kale, and lettuce, known for their nutritional benefits.

Motor Development

The advancement of muscle coordination and the capacity to maneuver and manage bodily movements.