Examples of provisions include each of the following except provisions for
A) anticipated losses.
B) defined contribution plans.
C) employee vacation pay.
D) warranties.

Question

Quizplus · Accepted Answer

Provisions are liabilities of uncertain timing or amount, therefore they require estimation. Provisions can include anticipated losses, warranties, and employee vacation pay. However, defined contribution plans are not considered provisions as they are legally required and have a determined amount based on employee contributions.

Examples of Provisions Include Each of the Following Except Provisions