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Question 4 says that it is possible for inflow of resources in other words certain so I don’t know why the answer is no adjustment, no disclosure. Please explain?
Short answer – that is the correct treatment (IAS 37)
The accounting treatment, which depends on “likelihood”, is summarised on page page 118 of the notes – see the explanation on that page regarding contingent assets.
“Probable” means “more likely than not” – i.e. >50% (this is assumed knowledge of IAS 37 from FA).
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