Given the uncertainty inherent in the recognition of provisions or contingent liabilities, financial statements would be much
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Given the uncertainty inherent in the recognition of provisions or contingent liabilities, financial statements would be much more reliable if the existence of potential liabilities were disclosed, rather than being recognised under conditions of potential uncertainty. Discuss this statement.
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The statement entails that financial statements would be more reliable if the e...View the full answer
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Related Book For 
Financial Accounting And Reporting
ISBN: 9781292255996
19th Edition
Authors: Barry Elliott, Jamie Elliott
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