Uncertainties such as natural disasters are: Multiple Choice Not contingent liabilities because they are future events not
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Question:
Uncertainties such as natural disasters are:
Multiple Choice
Not contingent liabilities because they are future events not arising from past transactions or events.
Contingent liabilities because they are future events arising from past transactions or events.
Disclosed because of their usefulness to financial statements.
Estimated liabilities because the amounts are uncertain.
Reported in the same way as debt guarantees.
Related Book For
International Accounting
ISBN: 978-1260466539
5th edition
Authors: Timothy Doupnik, Mark Finn, Giorgio Gotti, Hector Perera
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