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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.
Who appoints the Union Council of Ministers?
Select the best alternative.
Darwin : Evolution :: Archimedes : ?
Which of the following is a UNESCO recognised dance form?
_______ article of the Indian Constitution describes about the Protection of Interests of Minorities.
In which year was the Azad Hind Radio Service as part of Germany's radio service started?
To whom does the Public Accounts Committee submit its report?
According to the Global Multidimensional Poverty Index Report 2022, a total of 415 million people exited multidimensional poverty in India in the last _...
During a game of hockey, following an offence, if a player is shown a yellow card then he will be sent off the pitch for _______.
What settlement system did SEBI approve for certain securities with a select group of brokers?
Allan Octavian Hume, a retired English ICS officer, formed the indian National Union in ______.