No Disclosure Is Required for Contingent Liabilities That Are

question 80

Multiple Choice

No disclosure is required for contingent liabilities that are

• A) Probable
• B) Remote
• C) Possible
• D) Reasonably possible

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Definitions:

Privacy

The right of individuals to keep their personal information and life away from public scrutiny and to control the distribution and use of that information.

Justice

entails the fair and equitable treatment of individuals in accordance with moral rightness and law.

Fidelity

The degree to which a person, device, or method accurately and faithfully reproduces a given result or remains true to a specific set of ethical standards or promises.

Full Disclosure

A practice where all relevant information is openly communicated to all involved parties, especially important in financial transactions and healthcare.