(a)[3]
State the requirements for recognising a provision in the financial statements under IAS 37.
(b)[14]
Prepare a statement that adjusts the draft profit for the year ended 31 December 2024 after taking matters 1 to 5 into account. Use the space provided for workings to set out your workings.
(c)[3]
Prepare the journal entry for the impairment loss on delivery Van A. No narrative is needed.
(d)[5]
Advise the directors whether GT plc should pay the 2024 dividend or not. Justify your answer.