In Some Countries the Account Reserve for Contingencies May Be

question 65

Multiple Choice

In some countries the account Reserve for Contingencies may be most comparable to which of the following accounts for a company reporting under U.S.GAAP?

• A) Contingency Expense
• B) Retained Earnings Appropriated for Contingencies
• C) Unearned Contingency Fees
• D) Contingency Losses