A Threat of Expropriation of Assets That Is Reasonably Possible

question 16

Multiple Choice

A threat of expropriation of assets that is reasonably possible, and for which the amount of loss can be reasonably estimated, is an example of a (an)

• A) Loss contingency that should be disclosed, but not accrued
• B) Loss contingency that should be accrued and disclosed
• C) Appropriation of retained earnings against which losses should be charged
• D) General business risk which should not be accrued and need not be disclosed

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Definitions:

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Talcott Parsons

An American sociologist known for his contributions to social action theory and for developing the framework of structural functionalism.

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