The Financial Accounting Standards Board (FASB) Defines a Loss Contingency

question 12

Multiple Choice

The Financial Accounting Standards Board (FASB) defines a loss contingency as _______.

• A)an existing condition or situation involving uncertainty as to possible loss that will ultimately be resolved when one or more future events occur or fail to occur
• B)an existing condition or situation involving certainty as to possible loss that will ultimately be resolved when one or more future events occur or fail to occur
• C)an existing condition or situation involving uncertainty as to possible loss that will ultimately be resolved when one or more future events fail to occur
• D)an existing condition or situation involving uncertainty as to possible gain that will ultimately be resolved when one or more future events occur or fail to occur

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Definitions:

Gender Expression

How an individual presents their gender to others, through behavior, clothing, haircut, voice, and other forms of presentation.

Gender Roles

Refer to societal norms dictating the behaviors, activities, and attributes considered appropriate for individuals based on their perceived or assigned gender.

Sex Chromosomes

Chromosomes (X and Y) that determine an individual's biological sex.

Androgyny

The combination of masculine and feminine characteristics into an ambiguous form, often used to describe a person's gender expression.