Which of the Following Statements About Contingent Liabilities Is Incorrect

question 66

Multiple Choice

Which of the following statements about contingent liabilities is incorrect?

• A)A disclosure note is required when the loss is reasonably possible and the amount cannot be reasonably estimated.
• B)A disclosure note is required when the loss is probable 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 remote and the amount can be reasonably estimated.

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Definitions:

Campaign Management

The planning, executing, tracking, and analyzing of marketing campaigns to promote products, services, or causes.

Data Mining

The process of searching for valuable business information in a large database, data warehouse, or data mart.

OLAP

Online Analytical Processing; a category of software tools that provides analysis of data stored in a database and supports complex analytical and ad-hoc queries, usually in multiple dimensions.

Upselling

A sales technique where sellers encourage customers to purchase higher-end products, upgrades, or add-ons to generate more revenue.