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Find key difference between provisions and liabilities is

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Reference no: EM132774730

Problem 1: The two types of qualitative characteristics specified in the Conceptual Framework are:

Select one:

a. relevance and reliability
b. understandability and timeliness
c. faithful representation and relevance
d. comparability and verifiability

Problem 2: The key difference between provisions and liabilities is:

Select one:

a. the party that the obligation is owed to.
b. the uncertainty regarding the amount or timing of the future sacrifice of economic resources.
c. whether there is an obligation.
d. whether the obligation is current or non-current.

Reference no: EM132774730

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