Multiple Choice
One of the requirements for setting off in AASB 132 is the intention to offset.Which of the following statements about the "intention to set off" is correct?
A) The intention to offset is only required where the legal right to set-off is disputed.
B) Without the intention to offset the past cash flows of the entity will not be affected.
C) The intention of both parties to settle is insufficient unless a legal right exists.
D) Must be stipulated in writing for it to apply under ASB 132.
E) None of the given answers.
Correct Answer:
Verified
Correct Answer:
Verified
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