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Which of the following is true about the presentation of liabilities and their disclosures? Group of answer choices Current liabilities are reported at their full
Which of the following is true about the presentation of liabilities and their disclosures?
Group of answer choices
Current liabilities are reported at their full maturity value
All of the above is true
Companies can use their own discretion to decide how to list the current liabilities accounts on the balance sheet (e.g. maturity, descending amount, liquidation preference)
If an estimate of a loss contingency cannot be made, the company must issue a statement explaining that it is difficult to come to an estimate
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