Question
If the likelihood of an occurrence of a contingent liability is deemed reasonably possible, what is the appropriate accounting treatment? a.Nothing is required b.Note disclosure
If the likelihood of an occurrence of a contingent liability is deemed reasonably possible, what is the appropriate accounting treatment?
a.Nothing is required
b.Note disclosure only
c.Journalize only
d.Journalize and note disclosure
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Principles Of Cost Accounting
Authors: Edward J. Vanderbeck
12th Edition
0324100949, 978-0324100945
