Which of the Following Items Would Not Be Identified If

question 30

Multiple Choice

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

• 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:

Key

Essential factor or element that plays a crucial role in accessing, operating, or understanding something.

Access Password

A security feature requiring users to enter a password to gain entry to or use certain software, files, or devices.

Wi-Fi Network

A wireless network that uses radio waves to allow computers and other devices to communicate and connect to the internet without physical cables.

SSID

The Service Set Identifier, a unique name given to a Wi-Fi network to distinguish it from others, allowing devices to connect to the intended network.