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Define a contingent liability

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Reference no: EM132825540

Questions -

Q1. Define a contingent liability.

Q2. What are the recognition criteria for provisions?

Q3. Define a constructive obligation.

Q4. At what point would a contingent liability become a provision?

Q5. What are the key characteristics of an intangible assets?

Q6. Explain when development costs can be capitalized?

Reference no: EM132825540

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