The term “provision” as it is used in IAS 37, is most closely related to what term in U.S. GAAP? January 1, 2023 by admin Contingent liability, where the outflow of resources is “remote.” Contingent liability, where the outflow of resources is “probable.” Current liability, where the outflow is difficult to measure. Reserve for bad debt, where the amount recoverable is “uncertain.” See Answer Contingent liability, where the outflow of resources is “probable.”