Question

How are short-term provisions classified?

a.

Only as provisions for employee benefits.

b.

Provisions for employee benefits and other provisions with a specified nature.

c.

Only as other provisions with a specified nature.

d.

Provisions for employee benefits and goodwill.

Posted under IC 89 Management Accounting

Answer: (b).Provisions for employee benefits and other provisions with a specified nature. Explanation:Short-term provisions are classified as provisions for employee benefits and other provisions with a specified nature.

Interact with the Community - Share Your Thoughts

Uncertain About the Answer? Seek Clarification Here.

Understand the Explanation? Include it Here.

Q. How are short-term provisions classified?
Add Comment

Similar Questions

Explore Relevant Multiple Choice Questions (MCQs)

Q. How are tangible assets classified?

View solution

Q. How should assets under lease be specified in the classification of tangible assets?

View solution

Q. What information should be disclosed regarding the reconciliation of the gross and net carrying amounts of tangible assets?

View solution

Q. How are intangible assets classified?

View solution

Q. How are non-current investments classified?

View solution

Q. What information should be disclosed under the classification of non-current investments?

View solution

Q. How should investments carried at other than cost be disclosed?

View solution

Q. What information should be disclosed regarding long-term loans and advances?

View solution

Q. How are other non-current assets classified?

View solution

Q. How should long-term trade receivables be sub-classified?

View solution

Q. What information should be disclosed regarding current investments?

View solution

Q. How are current investments classified?

View solution

Q. How should inventories be classified?

View solution

Q. How should goods-in-transit be disclosed in inventories?

View solution

Q. What should be stated regarding the mode of valuation of inventories?

View solution

Q. How should trade receivables be classified?

View solution

Q. What should be separately stated regarding cash and cash equivalents?

View solution

Q. How are short-term loans and advances classified?

View solution

Q. What should be disclosed regarding other current assets?

View solution

Q. How are contingent liabilities classified?

View solution
View All MCQs on IC 89 Management Accounting

Recommended Subjects

Are you eager to expand your knowledge beyond IC 89 Management Accounting? We've handpicked a range of related categories that you might find intriguing.

Click on the categories below to discover a wealth of MCQs and enrich your understanding of various subjects. Happy exploring!

Marketing and Marketing Management

Uncover the strategies and tactics of marketing with our Marketing and Marketing...

Cell Biology

Delve into the fascinating world of Cell Biology with our specialized category....

Foundation Engineering

Master the principles of Foundation Engineering with our specialized category....

Enzyme Technology

Unlock the power of enzymes with our Enzyme Technology category. Explore enzyme...

Mass Transfer

Delve into the science of Mass Transfer with our specialized category. Explore...

Business Statistics

Uncover the power of data analysis with our Business Statistics category. Explore...

Analytical Instrumentation

Dive into the world of precise measurements with our Analytical Instrumentation...

Heat Transfer

Explore the fascinating world of heat transfer with our Heat Transfer category....

IC38 Life Insurance Agent Exam

Prepare for success in the Insurance Institute of India (III) IC38 IRDA examination...