True/False
A necessary condition for a provision to be recognised is that there is a legal obligation to make a future sacrifice of economic benefits
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q67: Explain,in the context of Positive Accounting Theory,the
Q68: If the entity is offering a higher
Q69: When determining whether a liability exists,the intentions
Q70: Banshee Ltd issues $12 million in
Q71: Examples of contingent liabilities include:<br>A) future payments
Q73: All things being equal,firms would typically prefer
Q74: Entities are only required to record a
Q75: An essential characteristic of a liability is
Q76: Which of the following is not listed
Q77: Convertible notes are:<br>A) essentially the same as