Which Statement Is Correct About Provisions,contingent Assets and Contingent Liabilities

question 67

Multiple Choice

Which statement is correct about provisions,contingent assets and contingent liabilities?

• A)The same probability threshold is used to record contingent liabilities and provisions.
• B)The same probability threshold is used to record contingent assets and contingent liabilities.
• C)Possible contingent liabilities are recorded.
• D)Virtually certain contingent assets are recorded.

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Definitions:

Successive Approximation

A process used in behavior therapy and conditioning that rewards closer and closer behaviors towards a desired goal.

Shaping Behavior

A process of reinforcing successive approximations to a desired behavior, gradually leading to the acquisition of the target behavior.

Self-actualization

The realization or fulfillment of one’s talents and potentialities, regarded as a drive or need present in everyone.

Salivating Dog Experiment

An experiment by Ivan Pavlov that demonstrated classical conditioning, where dogs were trained to salivate in response to a neutral stimulus paired with food.