Contingent Assets Need Not Be Disclosed in the Financial Statements

question 87

Multiple Choice

Contingent assets need not be disclosed in the financial statements or the notes thereto if they are considered?

• A)Probable virtually certain.
• B)Probable.
• C)Likely.
• D)Possible but not probable.

---

Definitions:

Psychologists

Professionals in the field of psychology who study mental processes and behavior, often providing therapy and counseling to help individuals cope with mental health issues.

Antitreatment Network

Groups or movements that oppose or resist standard medical treatments or interventions.

Psychological Problems

Psychological problems encompass a wide range of mental health issues and disorders that affect a person's thinking, behavior, and emotions, impacting their overall quality of life.

Type I Schizophrenia

According to some theorists, a type of schizophrenia dominated by positive symptoms, such as delusions, hallucinations, and certain formal thought disorders.