When the Likelihood of an Actual Loss Is Probable,and the Amount

question 153

True/False

When the likelihood of an actual loss is probable,and the amount can be estimated,it should be recorded as an expense and as a liability.

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Definitions:

Refrigeration Equipment

Refrigeration Equipment comprises devices and machinery used to keep food, drinks, and other perishables at a low temperature to preserve their quality over time.

Third-party Answer Technique

A sales strategy where the salesperson introduces the opinions or experiences of a third party to validate the product or service and reduce buyer skepticism.

Objections

Concerns or reasons given by a potential buyer against making a purchase, which salespeople aim to overcome.

Price/value Formula

An evaluation method that compares the cost of a product or service to the perceived benefits it provides to the buyer, used to assess its overall value.