A Contingency Liability That Is Remote

question 113

Multiple Choice

A contingency liability that is remote

• A) should be disclosed in the financial statements.
• B) must be accrued as a loss.
• C) does not need to be disclosed.
• D) is recorded as a contingent liability.

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Definitions:

Strategy

Pertains to a comprehensive plan formulated to achieve specific goals and objectives within a competitive environment.

Key Message

The core idea or main point that an individual or organization aims to convey to its target audience.

Target Audience

The specific group of consumers or individuals to whom a particular advertisement, campaign, or piece of content is directed.

Strategic Plan

A systematic process of envisioning a desired future, and translating this vision into broadly defined goals or objectives and a sequence of steps to achieve them.