Which of the Following Is the Proper Way to Report

question 68

Multiple Choice

Which of the following is the proper way to report a contingent asset considered probable?

• A)As an asset.
• B)As deferred revenue.
• C)As a disclosure only.
• D)No disclosure or accrual required.

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Definitions:

Return Students

Individuals who resume their education after an interruption, often facing unique challenges and needs compared to continuous students.

Comprehensive School Crisis Plan

A detailed protocol developed by educational institutions to prepare for, respond to, and recover from various emergencies or crises.

Mitigation/Prevention

Strategies or measures taken to reduce the severity, impact, or occurrence of potentially harmful or unpleasant events.

Restoration

The process of returning something to its original state, or to a condition similar to its original state, often used in the context of environmental or art conservation.