Under IFRS, the term provision:
A. Means establishing an asset account.
B. Means establishing a provision for bad debts.
C. Refers to expense.
D. Usually refers to a liability whose amount or timing is uncertain.
E. Means establishing a contra-asset account.
Answer: D
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Which statement BEST describes nonroutine reports?
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A. ?1 and 2 B. 1 and 3? C. 2 and 3? D. 1, 2, and 3?