Generally, Loss Contingencies That Are Judged to Be Remote

question 28

Multiple Choice

Generally, loss contingencies that are judged to be remote

• A) Should be disclosed in the footnotes.
• B) Should be recorded in the financial statements.
• C) Should not be disclosed in the footnotes.
• D) Should be recorded in the financial statements and the footnotes.

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Definitions:

Interdigitate

To interlock together like the fingers of two hands, often describing how cellular or tissue structures closely fit together.

Fontanels

Soft spots on a baby's skull where the bones have not yet fused together, allowing for growth of the brain.

Periosteum

A dense layer of vascular connective tissue enveloping the bones except at the surfaces of the joints.

Articulation

Place where two bones come together; also called joint.