AASB 137 Defines a Provision as A

question 6

Multiple Choice

AASB 137 defines a provision as a:

• A)present obligation arising from past events,the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits.
• B)liability of uncertain timing and amount.
• C)possible obligation that arises from past events and whose existence will be confirmed only by the occurrence/non-occurrence of one or more uncertain events not wholly within the control of the entity.
• D)present obligation that arises from a past event but is not recognised because the amount of the obligation cannot be measured with sufficient reliability.

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Definitions:

Behavioral Genetics

The field of study that examines the role of genetic and environmental variables on behavioral traits.

Trait Psychology

A branch of psychology that focuses on the study of personality traits, which are stable characteristics that influence an individual's behavior across different situations.

Evolutionary Psychology

A theoretical approach in the social and natural sciences that examines psychological structure from a modern evolutionary perspective.

Highly Correlated

Describes a strong statistical relationship between two variables, indicating that changes in one variable are reliably associated with changes in another.