The Description of 'Probable' in the AASB Framework Means That

Multiple Choice

The description of 'probable' in the AASB Framework means that:

A) Assessments of the degree of uncertainty attaching to the flow of economic benefits are made on the basis of evidence.
B) Assets will be recognised if the expected probability of future benefits arising is less than 50 per cent.
C) A high degree of professional judgement may be required in preparing accounting reports.
D) Assessments of the degree of uncertainty and a high degree of professional judgement may be required in preparing accounting reports.