Which of the Following Is an Example of a Provision

question 15

Multiple Choice

Which of the following is an example of a provision falling within the scope of IAS 37?

• A) accruals
• B) onerous contracts
• C) employee benefits
• D) future operating losses

---

Definitions:

Separate Legal Entity

A principle acknowledging that a corporation has a separate legal existence from its shareholders, protecting them from the company's debts.

Partnership

A business owned by two or more persons associated as partners.

Labour Unions

Organizations formed by workers to protect their rights and interests, often engaging in collective bargaining with employers over wages, benefits, and working conditions.

Internal Users

Individuals or groups within an organization who use financial and non-financial information to make decisions, such as management and employees.