Which of the following statements about contingent assets and contingent liabilities are correct? 1
A、contingent asset should be disclosed by note if an inflow of economic benefits is probable. 2
A、contingent liability should be disclosed by note if it is probable that a transfer of economic benefits to settle it will be required, with no provision being made. 3 No disclosure is required for a contingent liability if it is not probable that a transfer of economic benefits to settle it will be required 4 No disclosure is required for either a contingent liability or a contingent asset if the likelihood of a payment or receipt is remote
A、1 and 4 only
B、2 and 3 only
C、2, 3 and 4
D、1, 2 and 4
A、contingent asset should be disclosed by note if an inflow of economic benefits is probable. 2
A、contingent liability should be disclosed by note if it is probable that a transfer of economic benefits to settle it will be required, with no provision being made. 3 No disclosure is required for a contingent liability if it is not probable that a transfer of economic benefits to settle it will be required 4 No disclosure is required for either a contingent liability or a contingent asset if the likelihood of a payment or receipt is remote
A、1 and 4 only
B、2 and 3 only
C、2, 3 and 4
D、1, 2 and 4
【参考答案及解析】
A possible transfer of economic benefits should be disclosed. Where transfer is probable aprovision should be made
A possible transfer of economic benefits should be disclosed. Where transfer is probable aprovision should be made