- 1 Marks
AA – L2 – SA – Q1.10 – IAS 37 Components
Question
Which of the following does not appear in IAS 37?
A Deferred revenue
B Contingent assets
C Provisions
D Contingent liabilities
Answer
A
Explanation:
IAS 37 addresses provisions (C), contingent liabilities (D), and contingent assets (B). Deferred revenue (A) is covered under IFRS 15 (Revenue from Contracts with Customers), not IAS 37, as it relates to unearned revenue, not uncertain obligations or assets. Thus, A is correct.
- Tags: Audit Evidence, Contingent Liabilities, IAS 37, ICAG, Provisions
- Level: Level 2
- Topic: Audit and Assurance Evidence
- Uploader: Salamat Hamid