IFRS defines the probable collection from a credit sale as ________.
A) likely to be collected
B) more likely than not to be collected
C) at least a 50% probability of being collected
D) at least a 45% probability of being collected

Question

Quizplus · Accepted Answer

Under IFRS, "probable" is interpreted as "more likely than not," which means there is a greater than 50% chance of occurrence.

IFRS Defines the Probable Collection from a Credit Sale as ________