(a) Explain the differences between provision and contingent liability in accordance with MFRS 137 Provisions, Contingent Liabilities and Contingent Assets and why they are accounted for differently 6 marks (b) An employee of Economic Berhad was injured while carrying official duties He has filed ...

Answer a The key difference between a provision and a contingent liability is that provision is accounted for at present as a result of a past event whereas a contingent liability is recorded at prese ...

(a) Explain the differences between provision and contingent liability in accordance with MFRS 137 Provisions, Contingent...

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(a) Explain the differences between provision and contingent liability in accordance with MFRS 137 Provisions, Contingent...

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