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Use the following to answer questions 31 and 32:
REFERENCE 11-01
A foreign subsidiary of a U.S.-based company has been notified of a loss contingency with an estimated cost ranging between $220,000 and $250,000 which is probable of resulting in an actual loss. Each dollar amount within this range of cost is equally likely of being the actual outcome.
[QUESTION]
REFER TO: 11-01
-According to U.S.GAAP, what is the amount recognized as a provision for loss contingency?
Polychronic Culture
A societal character where multitasking and managing multiple events at once is the norm and highly valued.
North America
A continent located in the Northern Hemisphere and almost entirely within the Western Hemisphere, including countries such as the United States, Canada, and Mexico.
Mediterranean Region
A geographic area surrounding the Mediterranean Sea, characterized by its unique climate, culture, and biodiversity.
Latin America
A region that encompasses the countries in the Americas where Romance languages (languages derived from Latin, such as Spanish, Portuguese, and French) are primarily spoken.
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