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Ind AS 37 defines a provision as a liability of uncertain timing and amount and prescribes conditions that have to be satisfied for recognition of a provision. A provision shall be recognised when: · an entity has a present obligation (legal or constructive) that is a result of a past event; · it is probable that an outflow of resources embodying economic benefits will be required to settle the obligation; and · a reliable estimate can be made of the amount of the obligation. A contingent liability is contingent upon happening/non happening of an event. An entity shall not recognise a contingent liability.
Which of the following states will benefit from the World Bank aided (SMART) Project to transform rural areas there?
Consider the following statements about the Comptroller and Auditor General of India.
1. The office of the Comptroller and Auditor General in t...
The world agriculture day is celebrated on ___________ .
In which of these states The Nilgiri Biosphere Reserve is been located?
NITI Aayog has constructed the SDG India Index spanning across 13 out of 17 SDGs as prescribed by UNO. Which of the following SDG goals of UNO is left o...
Agricultural Acceleration fund to provide the financial support is entrepreneurs in the field of agriculture & allied sector was set up in which FY Budget?
Which of the following states has zero Scheduled Tribe population as per Census 2011?
Match the following List-1 with List-I:
List-1 (Letter/Magazine) List-II (E...
Cheetah was officially declared extinct in India in which year?
NATO celebrated its __________ anniversary in 2024.