In Some Countries the Account Reserve for Contingencies May Be

question 65

Multiple Choice

In some countries the account Reserve for Contingencies may be most comparable to which of the following accounts for a company reporting under U.S.GAAP?

• A) Contingency Expense
• B) Retained Earnings Appropriated for Contingencies
• C) Unearned Contingency Fees
• D) Contingency Losses

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Definitions:

Donald J. Trump

The 45th President of the United States, serving from January 2017 to January 2021, known for his career in real estate and reality television.

Hillary Clinton

An American politician, diplomat, lawyer, writer, and public speaker who served as the 67th United States Secretary of State, U.S. senator from New York, and First Lady of the United States.

Global Media Relations

The practice of managing and fostering a positive relationship with the media across the world to ensure favorable coverage for an organization or individual.

Challenges

Difficult situations or obstacles that need to be overcome.