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Which of the following is not a difference between a provision and contingent liability?a)A provision meets the recognition criteria whereas a contingent liability fails to meet the same.b)Provision is a present liability of uncertain amount whereas contingent liability is a possible obligation which arises from past event.c)Provision can’t be measured whereas contingent liability can be accurately measured.d)None of the above.Correct answer is option 'C'. Can you explain this answer? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Which of the following is not a difference between a provision and contingent liability?a)A provision meets the recognition criteria whereas a contingent liability fails to meet the same.b)Provision is a present liability of uncertain amount whereas contingent liability is a possible obligation which arises from past event.c)Provision can’t be measured whereas contingent liability can be accurately measured.d)None of the above.Correct answer is option 'C'. Can you explain this answer? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Which of the following is not a difference between a provision and contingent liability?a)A provision meets the recognition criteria whereas a contingent liability fails to meet the same.b)Provision is a present liability of uncertain amount whereas contingent liability is a possible obligation which arises from past event.c)Provision can’t be measured whereas contingent liability can be accurately measured.d)None of the above.Correct answer is option 'C'. Can you explain this answer?.

Solutions for Which of the following is not a difference between a provision and contingent liability?a)A provision meets the recognition criteria whereas a contingent liability fails to meet the same.b)Provision is a present liability of uncertain amount whereas contingent liability is a possible obligation which arises from past event.c)Provision can’t be measured whereas contingent liability can be accurately measured.d)None of the above.Correct answer is option 'C'. Can you explain this answer? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.

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