Onopea Inc

question 26

Multiple Choice

Onopea Inc. considered two contingencies at the end of 2016: ** a probable loss in the range of $200,000 to $900,000
** a reasonably possible loss of $150,000
Under IFRS, what is the balance for contingent liabilities at the end of 2016?

• A) $200,000
• B) $550,000
• C) $350,000
• D) $1,050,000

---

Definitions:

Courtship Length

is the period between when a couple starts dating or seeing each other and when they decide to commit, usually leading to engagement or marriage.

Marital Success

Refers to the level of satisfaction and stability in a marriage, often measured by the duration, fulfillment, and mutual support between partners.

Marital Quality

The subjective evaluation of the positive and negative aspects of marriage by the involved individuals, often influencing the stability and satisfaction within the relationship.

Family Life Cycle Stage

The series of stages through which a family progresses over time, including single adulthood, marriage, parenthood, and later life.