Which of the Following Items Would Not Be Identified If

question 30

Multiple Choice

Which of the following items would not be identified if a contingent liability were disclosed in a financial statement note?

• A) The nature of the item
• B) The expected outcome of the future event
• C) A numerical probability of the expected loss
• D) The amount of the contingency, if known

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Definitions:

Aggressive

Displaying or characterized by forceful actions or attitudes, often with the intention to dominate or control.

Social Acceptance

The degree to which an individual is accepted or approved of by a social group or society at large.

Self-presentation

The process by which individuals attempt to control the impressions others form of them, especially in social situations, through regulation of their behavior and appearance.

Valued Identity

A person's sense of self, regarded as important and valuable within their social and cultural context.