Provision is :

CS Executive · Corporate and Management Accounting · PYQS · December 2020
Provision is :
(A) an unknown liability but its amount and due date are determinate
(B) an unknown liability and its amount and due date are indeterminate
(C) a known liability and its amount and due date are determinate
(D) a known liability but its amount and due date are indeterminate

Answer & Explanation:

Correct Answer: Option (D)

Official answer key: (D).

Topics: Financial Accounting

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