alleryStart learning →Which of these is NOT a source of a legal obligation?
AA written contract
BA statute passed
COther operation of law
DA private board wish
Answer & Solution
Correct answer: D. A private board wish
A legal obligation derives from a contract, legislation or other operation of law, not from an undisclosed intention.
Keep practising AS 29 Provisions and Contingencies
Browse all AS 29 Provisions and Contingencies questions for CA Inter, or explore more Accounting topics.
Related questions
Use of estimates in preparing a provision:A present obligation where outflow is not probable is classed as a:To whom can an obligation be owed?Which obligation exists independently of the entity's future actions?A restructuring plan creates an obligation only if it is meant to:Which is evidence that a restructuring plan has started to be implemented?An executory contract falls within the provisions rules only if it is:Depreciation and doubtful debt provisions are really: