Which Statement About Contingent Assets Is Correct

question 57

Multiple Choice

Which statement about contingent assets is correct?

• A)It involves only potential economic outflows of resources.
• B)It is a possible asset that depends upon the outcome of a future event.
• C)It involves uncertainty about either the timing or amount of payment.
• D)It is a condition that depends upon the outcome of a forecasted event.

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Definitions:

P-value

A statistical measure that indicates the probability of observing the test results, or something more extreme, if the null hypothesis is true.

Null Hypothesis

A hypothesis that suggests there is no statistical significance between the specified sets of observations, usually representing a statement of no effect or no difference.

Alternative Hypothesis

The hypothesis in a statistical test that proposes a difference or effect, opposing the null hypothesis, and is considered true if the null hypothesis is rejected.

Alternative Hypothesis

A statement that proposes a new theory or relationship, typically suggesting that there is a statistically significant effect or association between variables.