The Following Statement, Contained in IAS 37, Defines: 'A Possible

question 25

Multiple Choice

The following statement, contained in IAS 37, defines: 'a possible asset that arises from past events and whose existence will be confirmed only by the occurrence or non-occurrence of one or more uncertain future events not wholly within the control of the entity'

• A) a deferred liability;
• B) a contingent liability;
• C) a deferred asset;
• D) a contingent asset.

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Definitions:

Free Version

A version of a product or service that is offered at no cost, often with limited features compared to paid versions.

Remote Locations

Areas that are far away from populated centers or are difficult to access.

Presentation-slide Programs

Software applications designed to create and display digital slideshows for informational and educational purposes.

Linear

Describes something that is arranged in or extends along a straight or nearly straight line.