Which of the Following Groups Has the Responsibility for Identifying

question 74

Multiple Choice

Which of the following groups has the responsibility for identifying and deciding the appropriate accounting treatment for recording or disclosing contingent liabilities?

• A) auditors
• B) legal counsel
• C) management
• D) management and the auditors

---

Definitions:

Scaffolding

An educational approach involving supportive structures and techniques provided by an educator to help students progress toward stronger understanding and greater independence in the learning process.

Cognitive Skills

Mental abilities that enable understanding, analyzing, and processing information.

Social Skills

Abilities essential for effective interpersonal interactions, including communication, empathy, and conflict resolution.

Scaffolding

An educational technique involving the provision of supportive structures and guidance to facilitate learning, allowing the learner to perform tasks they would not be able to accomplish alone.