CA CPT 2014 June Question Paper Fundamentals of Accounting for online practice

Question : 13 of 60

Marks: +1, -0

Which of the following is not a difference between provision & contingent liability

A provision meets the recognition criteria where as contingent liability fails to meet the same
Provision is a present liability of uncertain amount where as contingent liability is possible bligation which arises from past events
Provision can’t be measured where as contingent liability is absolutely measured
None of the above

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