alleryStart learning →AS 27 disclosure of contingent liabilities is not needed when the probability of loss is what?
ARemote
BProbable
CPossible
DCertain
Answer & Solution
Correct answer: A. Remote
Contingent liabilities relating to joint ventures are disclosed unless the probability of loss is remote.
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Related questions
For jointly controlled entities, a venturer must disclose which item?How are joint venture capital commitments disclosed?For which statements is AS 27 mandatory in respect of an enterprise?How does the joint venture itself account for the operator's management fee?Fees earned by an operator of a joint venture are accounted for under which standard?Which standard is used to test impairment in venturer and venture transactions?A loss on purchase from a venture is booked at once when it shows what?A 40% venturer buys stock on which its venture made Rs 50,000 profit. Unsold. Profit share