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:

Caption Button

A control feature in user interface design, usually found in the corner of a window, that provides options to minimize, maximize, or close the window.

Design Tab

A feature in software applications that provides tools and options for modifying the layout and aesthetics of a document or presentation.

Query

A request for information or data from a database, often written in a specific language like SQL.

Largest Amount

The maximum or highest quantity or degree measured or recorded.