Use the Following Key (A-D) to Identify the Proper Treatment

question 143

Multiple Choice

Use the following key (a-d) to identify the proper treatment of each contingent liability.
-Event is remote and amount is estimable

• A)Record only
• B)Record and disclose
• C)Disclose only
• D)Do not record or disclose

---

Definitions:

Commodity Chains

The network of production and distribution processes through which a product passes until it reaches the consumer, often spanning multiple countries.

Sweatshop

A workplace where workers are subject to extreme exploitation, including below-standard wages, long hours, and poor working conditions that may pose health or safety hazards.

Race To The Bottom

A socio-economic phenomenon where countries or companies compete by undercutting each other in standards, such as labor rights and environmental regulations, to attract business.

Sweatshop

A pejorative term for a workplace that has very poor, socially unacceptable working conditions, often where workers are exploited.