When the inflow of economic benefits from a contingent asset is possible, IAS 37 Provisions, contingent liabilities and contingent assets, requires an estimate of the financial effect of the contingent asset FALSE
In accordance with IAS 10 Events after the reporting period, material non-adjusting events after the reporting period should not be disclosed FALSE
IAS 2 Inventories, requires the accounting policies adopted in measuring inventories to be disclosed in the financial statements. TRUE
IAS 37 Provisions, contingent liabilities and contingent assets, requires disclosure of the uncertainties affecting the outcome of a provision. TRUE |
