Question
In the case of_____, either outflow of resources to
settle the obligation is not probable or the amount expected to be paid to settle the liability cannot be measured with sufficient reliabilitySolution
Contingent liabilities are potential obligations that may arise from past events and their existence is uncertain, depending on the occurrence or non-occurrence of one or more future events not within the control of the entity. When the outflow of resources to settle the obligation is not probable, or the amount cannot be measured with sufficient reliability, the entity recognizes a disclosure in its financial statements in the form of a note or footnote. This disclosure informs the users of the financial statements about the potential liability and the possible impact on the entity's financial position and performance.
Choose the most appropriate word for blank no. (iii)
Find the appropriate word.
Choose the appropriate word to fill the blank.
Which of the following is a near synonym of the word ‘excite’?
From the following select the appropriate word to replace number (46) in the above passage.Â
Fill in blank 6 with the appropriate word from the options.
Find the appropriate word for Blank 2.
Fill in the blank with the most appropriate word.
Find out the appropriate words.
Fill in the blank with the appropriate word.
