e reflected i hat such fut Provisions fe

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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13.
14.
Future events that may affect the amount required to settle an obligation should
be reflected in the provision amount where there is sufficient objective evidence
that such future events will in fact occur.
Provisions for future operating losses can be recognized.
Transcribed Image Text:13. 14. Future events that may affect the amount required to settle an obligation should be reflected in the provision amount where there is sufficient objective evidence that such future events will in fact occur. Provisions for future operating losses can be recognized.
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