Which of the following would likely be considered to be a provision as defined in AASB 137?

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Which of the following would likely be considered to be a ‘provision’ as defined in AASB 137?

a. A warranty provided by a car retailer

b. An amount transferred from retained earnings to another account in anticipation of future repairs and maintenance

c. An obligation to clean up a contaminated site

d. A bank loan

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Financial Accounting

ISBN: 9781743767382

9th Edition

Authors: Craig Deegan

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Question Posted: Sep 03, 2023 06:45 AM

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Which of the following would likely be considered to be a provision as defined in AASB 137?

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A provision is a liability of uncertain timing an amount As a liability there are three key componen...View the full answer

Financial Accounting

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