Question: Statement 1: An entity may recognize a present obligation under an onerous contract as a provision. Statement 2: IAS 37 allows an entity to create

Statement 1: An entity may recognize a present obligation under an onerous contract as a provision. Statement 2: IAS 37 allows an entity to create a provision for future operating losses. Select one: a. Statement 1 is False; Statement 2 is True b. Both statements are False c. Statement 1 is True; Statement 2 is False d. Both statements are True

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