CAF-6 · Chapter 1 · Question 11 of 15
How frequently should an entity review its recognized provisions according to IAS 37?
Test yourself: pick an answer
Reveal answer & explanation
Correct answer: B) At the end of each reporting period.
Explanation
IAS 37 requires that provisions be reviewed at the end of each reporting period and adjusted to reflect the current best estimate of the expenditure required to settle the present obligation.
More IAS 10, IAS 37 & IFRIC 1 MCQs
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