Which of the Following Types of Contingencies Would NOT Be

question 59

Multiple Choice

Which of the following types of contingencies would NOT be disclosed on the financial statements until it has been resolved?

• A) A lawsuit against our company and it is probable that we will lose
• B) A lawsuit against our company and it is reasonably possible we will lose
• C) A lawsuit we have filed against a competitor and it is probable that we will win
• D) All of these must be disclosed on the financial statements

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Definitions:

Standard Deviations

A measure that indicates the amount of variation or dispersion from the average in a set of data.

Geometric Mean

The nth root of the product of n numbers, used especially for sets of positive numbers.

Standard Deviation

A measure that quantifies the amount of variation or dispersion of a set of data values from the mean.

Variance

A measure of variability that describes the spread of a data set or distribution, calculated as the average of the squared differences from the mean.