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Question 9 1 pts In its most recent annual report, Johnson and Johnson reported a contingent liability for $ 9 billion related to lawsuits alleging
Question pts In its most recent annual report, Johnson and Johnson reported a contingent liability for $ billion related to lawsuits alleging that talc in its baby powder had caused cancer. What is the name of the accounting principle that says to record a loss in light of potential bad news but to record a gain only after the goods news has fully realized? Conservatism Modified Accelerated Cost Recovery System The matching principle Recourse 
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pts
In its most recent annual report, Johnson and Johnson reported a contingent liability for $ billion related to lawsuits alleging that talc in its baby powder had caused cancer. What is the name of the accounting principle that says to record a loss in light of potential bad news but to record a gain only after the goods news has fully realized?
Conservatism
Modified Accelerated Cost Recovery System
The matching principle
Recourse
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Fundamentals of Cost Accounting
Authors: William Lanen, Shannon Anderson, Michael Maher
3rd Edition
9780078025525, 9780077517359, 77517350, 978-0077398194
