Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

How could a contingent responsibility be kept in the budget reports? a) It ought to be perceived as a responsibility and revealed in the notes

How could a contingent responsibility be kept in the budget reports? a) It ought to be perceived as a responsibility and revealed in the notes to the fiscal summaries. b) It ought to be perceived as an income and unveiled in the pay proclamation. c) It ought not be recorded until it turns into a specific obligation.

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Financial Accounting

Authors: Libby, Short

6th Edition

978-0071284714, 9780077300333, 71284710, 77300335, 978-0073526881

More Books

Students also viewed these Accounting questions