Which of the Following Is the Proper Way to Report

question 50

Multiple Choice

Which of the following is the proper way to report a probable contingent asset?

• A) as a disclosure only
• B) as a deferred revenue
• C) as an accrued revenue
• D) as an increase to receivables

---

Definitions:

Hormone

A chemical substance produced in the body that regulates and controls the activity of certain cells or organs.

Bloodstream

The flowing body fluid that delivers necessary substances such as nutrients and oxygen to the cells and transports metabolic waste products away from those same cells.

Antagonist

A substance or character that opposes or inhibits the action of another in a particular situation or story.

Neurotransmitter

A neurotransmitter is a chemical substance that transmits signals across a synapse from one neuron to another in the nervous system.