Entities Are Not Required to Disclose Which of the Following

question 10

Multiple Choice

Entities are not required to disclose which of the following in relation to provisions?

• A) Carrying amounts of provisions at the beginning of the period.
• B) Amounts used during the period.
• C) The effect of any change in the discount rate used.
• D) Comparatives.

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Definitions:

Warranty

In the sale of goods, a minor term in a contract. The breach of the term would allow the injured party damages, but not rescission of the agreement.

Safety Items

Equipment or products designed to enhance safety and minimize the risk of injury or harm in various settings.

Bald Tires

Tires that have lost their tread, leading to decreased performance and increased risk of accidents.