Which of the Following Statements Is True

question 78

Multiple Choice

Which of the following statements is true?

• A)No loss contingencies should be disclosed if there is just a reasonable possibility of a loss.
• B)Indirect guarantees should normally be accrued.
• C)In the case of loss contingencies, accrual can be made even if the exact payee and payment date are not known.
• D)Losses may be accrued for unasserted claims and other potential unfiled lawsuits.

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Definitions:

Social-cognitive Theories

Theories that emphasize the role of cognitive processes in understanding social behavior, including how we interpret, analyze, and remember information about others and our social interactions.

Psychodynamic Theories

A framework in psychology that emphasizes the role of unconscious processes and childhood experiences in shaping personality and behavior.

Trait Theories

The study of human personality focused on identifying and measuring the stable characteristics that distinguish one individual from another.

Reciprocal Determinism

A concept in psychology that suggests an individual's behavior is both influenced by and influences their personal factors and the environment in a cyclical manner.