In Order to Be Reported,liabilities Must

question 139

Multiple Choice

In order to be reported,liabilities must:

• A)Be certain.
• B)Sometimes be estimated.
• C)Be for a specific amount.
• D)Always have a definite date for payment.
• E)Involve an outflow of cash.

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Definitions:

Cochlea

A spiral-shaped, fluid-filled inner ear structure that plays a key role in the process of hearing by converting sound waves into nerve impulses.

Retina

The light-sensitive layer of tissue at the back of the inner eye that converts light images into neural signals sent to the brain.

Optic Disk

Area of the retina where the optic nerve exits the retina; lacks photoreceptors and so causes a blind spot.

Optic Pit

A small depression in the optic disc where nerve fibers exit the eye, contributing to the blind spot.