A Contingent Liability That Has a Remote Possibility of Becoming

question 136

True/False

A contingent liability that has a remote possibility of becoming an actual loss is included in a note to the financial statements.

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Definitions:

Sustainability Efforts

Initiatives and practices aimed at preserving environmental resources and ensuring the long-term viability of processes or operations.

CSR Activities

Corporate Social Responsibility activities are actions taken by businesses to improve society and contribute positively to the community and environment.

Future Generations

Individuals who will live in the succeeding periods, whose interests are considered in long-term planning and sustainability efforts.

Eco-Efficiency Measure

An assessment of the economic performance of a process or product in terms of its environmental impacts, aiming for sustainability by reducing resources used and waste produced.