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Forums › Ask ACCA Tutor Forums › Ask the Tutor ACCA FA – FIA FFA › IAS 37
If obligation has possible chances and reliably measured. It is provision or it is contingent liability?
It is a provision, and because it is possible (i.e. between 5% and 50% likely) it will be disclosed by way of a note.
Thank you sir.
You are welcome 🙂
