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- IAS 37 – Provisions, Contingent Liabilities and Contingent Assets 0%
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Question 1 of 10
1. Question
IAS 37 __________ to executory contracts __________ they are onerous.
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Question 2 of 10
2. Question
Which of the following does IAS 37 apply to?
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Question 3 of 10
3. Question
Which of the following does define the term “provision”?
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Question 4 of 10
4. Question
Which of the following is defined by this statement: “A present obligation of the entity arising from past events, the settlement of which is expected to result in an outflow from the entity of resources embodying economic benefits”?
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Question 5 of 10
5. Question
An onerous contract is a contract in which __________ of meeting the obligations under the contract __________ the economic benefits expected to be received under it.
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Question 6 of 10
6. Question
Which of the following statements does more likely define the term “restructuring”?
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Question 7 of 10
7. Question
All provisions are contingent because they are uncertain in timing or amount.
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Question 8 of 10
8. Question
Under which of the following conditions shall a provision be recognised?
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Question 9 of 10
9. Question
An entity shall not recognise a contingent liability __________.
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Question 10 of 10
10. Question
Contingent assets __________ in financial statements __________ this may result in the recognition of income that may never be realised.
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