For each class of provision, AASB 137 Provisions, Contingent Liabilities and... For each class of provision, AASB 137 Provisions, Contingent Liabilities and Contingent Assets requires an entity to disclose the following information: 1. Comparative information; II. Unused amounts reversed during the period; III. Additional provisions made during the period; IV. The carrying amount at the beginning and end of the period; V. A brief description of the nature of the obligation and the expected timing. O a. II, III and IV only. O b. I, II, and Ill only. OC I, III, IV and V only. O d. II, III, IV and V only.

The new standard, Revenue from Contracts with Customers, recognizes revenue based on a(n): Revenue-Expense Approach Asset-Liability Approach O Asset-Equity Approach O Liability-Equity Approach

Which of the following is correct about contingent liabilities and provisions?     The terms are interchangeable.     A provision is based on an estimate while a contingent liability can be estimated reliably.     A provision is disclosed in the statement of financial position while a contingent liability is disclosed in the notes.     A contingent liability does not need to be disclosed in an entity's annual report.

The following obligations are immediately demandable, EXCEPT:     a pure obligation  obligation with a resolutory condition  obligation with a resolutory period none of the above