I. A provision is a present obligation which may either be legal or constructive. II. Even if a provision is a result of past event, future events may be used to estimate it. O a. Only Statement I is true. b. Only Statement Il is true. c. Both Statements I and II are true. O O
I. A provision is a present obligation which may either be legal or constructive. II. Even if a provision is a result of past event, future events may be used to estimate it. O a. Only Statement I is true. b. Only Statement Il is true. c. Both Statements I and II are true. O O
Chapter11: Investor Losses
Section: Chapter Questions
Problem 25DQ
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![9. Consider the following
statements: *
I. A provision is a present obligation which may either be legal or constructive.
II. Even if a provision is a result of past event, future events may be used to estimate it.
a. Only Statement I is true.
b. Only Statement Il is true.
c. Both Statements I and II are true.
d. Neither Statement I nor II is true.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F4530d1e8-bfcd-4921-a840-e866079be199%2F456202c4-6739-4dcf-be2e-999ad5c80007%2F92iipci_processed.jpeg&w=3840&q=75)
Transcribed Image Text:9. Consider the following
statements: *
I. A provision is a present obligation which may either be legal or constructive.
II. Even if a provision is a result of past event, future events may be used to estimate it.
a. Only Statement I is true.
b. Only Statement Il is true.
c. Both Statements I and II are true.
d. Neither Statement I nor II is true.
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