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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.
Dachigam National Park is situated at which of the following states?
What is the current number of Blue Flag-certified beaches in India, including Kappad and Chal?
Who among the following has written the biography of Buddha, Buddhacharita?
The Krishna Raja Sagar Dam is constructed on which river?
Committee on Banking Sector reforms (Narasimham Committee 2) submitted its report in?
‘PCA’ Stands for?
Recently A cylone Named “Asani” was in news. What does this name mean?
"Ossuary Feast" festival is celebrated in which Indian union territory?
The Patalkot valley, known for its rich indigenous culture, is located in which Indian state?
Demat accounts are maintained with Depository Participants