Which of the Following Statements Is Not True

question 35

Multiple Choice

Which of the following statements is not true?

• A)Loss contingencies should be disclosed if there is just a reasonable possibility of a loss.
• B)Indirect guarantees should normally be disclosed by footnote, not by accrual.
• C)In the case of loss contingencies, accrual can be made even if the exact payee and payment date are not known.
• D)Losses may be accrued for unasserted claims and other potential unfiled lawsuits.

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Definitions:

Statistical Programming

The use of software to perform statistical analysis and manage data.

Programming Proficiency

The level of expertise or skill in writing computer programs in one or more programming languages.

SAS Software

A software suite developed by SAS Institute Inc. for advanced analytics, multivariate analysis, business intelligence, data management, and predictive analytics.

Highest Education Level

The maximum level of formal education successfully completed by an individual.