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.

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Q. How are short-term provisions classified?
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