Which of the Following Items Would Not Be Identified If

question 44

Multiple Choice

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

• 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:

Community Partnerships

Collaborative relationships between organizations and the local community designed to achieve common goals and address community needs.

Affective Domain

Relates to the emotions, attitudes, feelings, and values of individuals, often in the context of learning and education.

Positive Outcome

A positive outcome refers to a favorable result or the achievement of desired goals and objectives.

Knee Surgery

A medical procedure involving the knee joint, such as repair of ligaments, meniscus, or total knee replacement, aimed at relieving pain and restoring function.