A Contingent Liability Is Recognized When the Likelihood of Loss

question 60

True/False

A contingent liability is recognized when the likelihood of loss is probable and the amount can be reasonably estimated.

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Definitions:

Negative Reinforcer

A stimulus that, when removed after a behavior occurs, increases the likelihood of that behavior being repeated.

Reduction In Tension

A process or action that decreases stress or anxiety levels in individuals or groups.

Oral Needs

Psychological or physical requirements for satisfaction received through the mouth, such as eating, drinking, or the need for verbal expression.

Variety Of Reasons

An expression used to indicate that there are multiple and possibly diverse explanations or causes for something.