In the following year, Jimbo Ltd has decided to consider using an alternative supplier of the planned maintenance. After

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answerhappygod
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In the following year, Jimbo Ltd has decided to consider using an alternative supplier of the planned maintenance. After

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In the following year, Jimbo Ltd has decided to consider using
an alternative supplier of the planned maintenance. After
discussions with the alternative supplier, Jimbo Ltd decided they
would enter into a contract with the following details
included:
The directors of Jimbo Ltd continue to believe the planned
maintenance should be recognised as a liability.
Required
Advise the directors whether a liability should be recorded in
the financial period ending 30 June 2023. Justify your answer by
reference to the Conceptual Framework definition and recognition
criteria.
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