Question: Exercise 5.1 RECOGNISING A PROVISION When should liabilities for each of the following items be recorded in the accounts of the business entity? (a)

Exercise 5.1 ★ RECOGNISING A PROVISION When should liabilities for each of the following items be recorded in the accounts of the business entity?

(a) Acquisition of goods by purchase on credit

(b) Salaries

(c) Annual bonus paid to management

(d) Dividends

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