Which of These Best Describes the Requirement of IAS 37

question 3

Multiple Choice

Which of these best describes the requirement of IAS 37 for review and adjustment of provisions?

• A)Provisions do not need review or adjustment
• B)Provisions should be reviewed at each balance sheet date,but do not need adjustment if the difference is below 10% of the total value
• C)Provisions should be reviewed monthly and be adjusted accordingly
• D)Provisions should be reviewed at each balance sheet date,and be adjusted accordingly

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Definitions:

Corporate Funds

Money or financial resources owned by a corporation and used for its business activities, investments, and operations.

Social Causes

Movements or endeavors aimed at promoting social change or addressing societal issues.

Citizens United v. Federal Election Commission

A landmark Supreme Court case that ruled corporations and unions can spend unlimited amounts on political campaigns, arguing that such spending is a form of protected speech under the First Amendment.

Political Speech

Expressions related to the governance of a country or political processes, often protected under the freedom of speech rights.