A Contingent Liability Should Be Recorded in the Accounts If

question 9

Short Answer

A contingent liability should be recorded in the accounts if it is ______________ that the contingency will occur and the amount is ______________.

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Definitions:

Ecofeminists

Activists and scholars who combine ecological concerns with feminist perspectives, emphasizing the connection between the exploitation of nature and the oppression of women.

Oppression

The exercise of authority or power in a burdensome, cruel, or unjust manner.

Voluntary Simplicity

A lifestyle choice aimed at reducing one's use of and reliance on consumer products and services, in favour of more sustainable and self-sufficient living.

Environmentally Ethical

Acting with consideration for the environmental impact of one's decisions and actions, aiming to reduce harm to the natural world.