Question
Onopea Inc. considered two contingencies at the end of 2022: ** a probable loss in the range of $100,000 to $500,000 ** a reasonably possible
Onopea Inc. considered two contingencies at the end of 2022:
** a probable loss in the range of $100,000 to $500,000
** a reasonably possible loss of $160,000
Under U.S. GAAP, what is the balance for contingent liabilities at the end of 2022?
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Under US Generally Accepted Accounting Principles GAAP contingent liabilities are classified into th...
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Entrepreneurial Finance
Authors: J. Chris Leach, Ronald W. Melicher
6th edition
1305968352, 978-1337635653, 978-1305968356
