Known liabilities of uncertain amounts should be a. estimated and accrued when they occur. b. ignored; record
Question:
Known liabilities of uncertain amounts should be
a. estimated and accrued when they occur.
b. ignored; record them when they are paid.
C. reported on the income statement.
d. described in the notes to the financial statements.
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The correct answer is d described in the notes to the financial statements Known liabil...View the full answer
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