Present liability of uncertain amount, which can be measured reliably by using a substantial degree of estimation is termed as?

Question

Present liability of uncertain amount, which can be measured reliably by using a substantial degree of estimation is termed as?

Contingent liability
Liability
Provision
Reserve

LohaHridoy

4 views

2025-01-04 04:42

1 Answers

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AhmedNazir · Accepted Answer · 2022-09-01T13:21:41+06:00

AhmedNazir

Answer: Option 3

Present liability of uncertain amount, which can be measured reliably by using a substantial degree of estimation is termed as Provision. A provision is an account which records a present liability of an entity.

4 views Answered 2022-09-01 13:21