Question
Which of the following statements about contingent liabilities is incorrect ? A.) disclosure note is required when the loss is remote and the amount can
Which of the following statements about contingent liabilities is incorrect?
A.) disclosure note is required when the loss is remote and the amount can be reasonably estimated.
B.) A disclosure note is required when the loss is reasonably possible and the amount cannot be reasonably estimated.
C.) A disclosure note is required when the loss is reasonably possible and the amount can be reasonably estimated.
D.) A disclosure note is required when the loss is probable and the amount cannot be reasonably estimated.
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The Board Of Directors And Audit Committee Guide To Fiduciary Responsibilities Ten Critical Steps To Protecting Yourself And Your Organization
Authors: Sheila Moran CPA CFE, Ronald Kral CPA CMA
1st Edition
0814431666, 978-0814431665
