Financial Statement Note Disclosure Is Required for Material Potential Losses

question 127

Multiple Choice

Financial statement note disclosure is required for material potential losses when the loss is at least reasonably possible:

• A) Only if the amount is known.
• B) Only if the amount is known or reasonably estimable.
• C) Unless the amount is not reasonably estimable.
• D) Even if the amount is not reasonably estimable.

---

Definitions:

Regression Parameters

Quantitative values in a regression equation that represent the relationship between the independent variable and the dependent variable.

Y-intercept

The y-intercept is the point where a line or curve intersects the y-axis of a coordinate system, representing the value of the dependent variable when the independent variable is zero.

Independent Variables

Variables in an analysis that are manipulated or categorized to determine their effect on dependent variables.

Sample Size

The number of observations or elements included in a sample drawn from a population for analysis.