A Contingent Liability That Has a Remote Possibility of Becoming

question 136

True/False

A contingent liability that has a remote possibility of becoming an actual loss is included in a note to the financial statements.

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Definitions:

Community's Ecology

The study of interactions among organisms and their environment within a specific community, affecting its structure and function.

Native

Originating, growing, or produced in a certain place or environment.

Former Condition

The previous state or situation of something before any changes were made.

Period of Stress

A timeframe during which an individual, group, or system experiences significant pressure or difficulty.