How Should a Contingent Liability That Has an Unlikely Chance

question 71

Short Answer

How should a contingent liability that has an unlikely chance of occurring and is insignificant in size be disclosed? $\begin{array}{lll}&\text { Accrual}&\text { Footnote }\\\hline\text { a. } & \text { No } & \text { Yes } \\\text { b. } & \text { No } & \text { No } \\\text { c. } & \text { Yes } & \text { No } \\\text { d. } & \text { Yes } & \text { Yes }\end{array}$

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Definitions:

Progress Notes

Documentation created by healthcare professionals to record the details and developments of a patient's clinical status and care over time.

Home-Care Setting

A healthcare model where patients receive medical, nursing, or therapeutic treatment in their own homes rather than in a hospital or clinic.

Condition Change

A variation or alteration in the state, environment, or circumstances of a patient or situation.

Discharge Summary

A document that contains a summary of a patient's hospital stay, including the reason for admission, diagnosis, treatment, and recommendations for follow-up care.