Under US GAAP, a Contingency Is Deemed to Be Probable If

question 72

True/False

Under U.S. GAAP, a contingency is deemed to be probable if it is considered to be likely to occur.

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Definitions:

Cognitive Stimulation

Activities and exercises designed to improve mental abilities such as memory, reasoning, and problem-solving skills.

Menopause

The natural cessation of menstruation that typically occurs in a woman’s late 40s to early 50s, marking the end of the reproductive years.

Menarche

The first menstrual cycle, or first menstrual bleeding, in female humans; marks the possibility of fertility.

Ovulation

Ovulation is the phase in a female's menstrual cycle where a mature egg is released from the ovary, enabling fertilization if sperm is present.