WHICH OF THE FOLLOWING IS A CHARACTERISTIC OF A CONTINGENT LIABILITY? A) CERTAIN TO OCCUR B) AMOUNT CAN BE EXACTLY DETERMINED C) DEPENDS ON A FUTURE EVENT D) RECORDED AS AN EXPENSE IMMEDIATELY

The disclosure of a line item for Other current assets in the Statement of financial position would be justified according to which of the following? O Comparability Materiality o Consistency Neutrality o Verifiability

Which of the following is the least acceptable measurement for a provision?   a. average of a given range of values b. weighted probability of outcomes c. best reasonable estimate from an expert d. actual settlement amount known after release of financial statements

Retrospectively or Prospectively?

When should an expenditure be recorded as an asset rather than an expense? O Never O When future benefits exist O Always O If the amount is material A

Which are the assumptions will be added as we discuss the various approaches to the valuation of the REIT?

henew Questions a Explainthe historical b. what is a bss exposure?. C. Hew coes ayective risk differ from Subiective risk? definition Of riski

What are the requirements for a prior period adjustment?

Which of the following is not an element of control?A. Ability to affect returnB. Exposure, or rights, to variable termsC. Major holdingsD. Power

Please answer with reason for all why the option is correct and why the other options are incorrect 74. An expenditure whose benefit is finished or enjoyed immediately is called A.Expense B.Liability C.Cost D.Income