For Each Class of Provision, an Entity Is Required by IAS

question 17

Multiple Choice

For each class of provision, an entity is required by IAS 37 to disclose the following information:
I The carrying amount at the beginning and end of the period.
II Amounts incurred and charged against the provision during the period.
III Comparative information.
IV Unused amounts reversed during the period.
V Additional provisions made during the period.

• A) I, II, IV and V only;
• B) I, II, and III only;
• C) II, III and IV only;
• D) I, III, IV and V only.

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Definitions:

Aggression

Any physical or verbal behavior intended to harm someone physically or emotionally.

Prosocial Behavior

Actions intended to benefit others, including behaviors like helping, sharing, and showing compassion.

Observational Learning

The process of learning behaviors by watching and imitating others.

Babysit

The temporary care of a child on behalf of the child's parents or guardians.