In availability of funds, anycertification for a non-existent or fictitious obligation shall be accepted.Select one:TrueFalse

Provisions are recognized if it is probable that an outflow of resources will be required to settle the obligation.Group of answer choicesTrueFalse

The primary assertion being addressed by sending bank confirmation isSelect one:a.classificationb.completenessc.existenced.rights and obligation

True or False QuestionA firm's cash must be sufficiently available to meet the company’s obligations.True false question.TrueFalse

Liabilities which do not meet the recognition criteria and where the possibility of an outflow of economic resources is remote should: Reading required Learning objective 9.4 on page 256. Group of answer choices not be recognised/disclosed in the financial statement at all. be recognised as an accrual. be recognised as a provision. be disclosed as a contingent liability.

Used to report all other trust arrangements under which the principal and income are held for the benefit of individuals, other governments and private organizations.Select one:a.Debt Service Fundsb.none of the choicesc.Private-Purpose Trust Fundsd.Agency Funds