If the Amount of a Probable Loss on a Contingent

question 4

Multiple Choice

If the amount of a probable loss on a contingent liability is not determinable,the liability should be

• A)accrued and indicated in the body of the financial statements.
• B)disclosed in footnotes but not accrued.
• C)neither accrued nor disclosed in footnotes.
• D)disclosed in the auditor's report but not disclosed on the financial statements.

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Definitions:

Specified Period

A fixed or clearly defined duration of time.

Dietary Assessment Method

Techniques or tools used to evaluate the nutritional value of a person's diet, often through the collection and analysis of dietary intake data.

Usual Intake Form

A dietary assessment tool used to record an individual's typical food and beverage consumption over a specific period.

Food Diary

A record kept by an individual of all the food and drink they consume over a certain period, often used as a tool in nutrition counseling to assess dietary habits.