Question：IAS 37 deals with accounting for provisions.
Which combination of the following options best describes the effects of IAS 37?
A. To ensure that the most prudent possible view of provisions is taken by companies.
B. To ensure that the definition of liabilities in the Conceptual Framework document is consistently carried through to recognised provisions and contingencies.
C. To prevent the use of provisions and contingencies as income smoothing creative accounting devices.
D. To ensure provisions and contingencies are recognised on a consistent basis and to ensure adequate disclosure is given.
The correct answers are:
To prevent the use of provisions and contingencies as income smoothing creative accounting devices.
To ensure provisions and contingencies are recognised on a consistent basis and to ensure adequate disclosure is given.
To ensure that the definition of liabilities in the Framework document is consistently carried through to recognised provisions and contingencies.
解析：IAS 37 does not take an especially prudent view of liabilities; providing their expected valuerather than worst-case value.
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