A Contingent Liability That Has a Remote Possibility of Becoming

question 89

True/False

A contingent liability that has a remote possibility of becoming an actual loss is not included in a note to the financial statements.

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Definitions:

Infants

Very young children, typically under one year of age, who are in the earliest stage of human life.

Day Care

A service offering care and supervision for children during the daytime, especially to allow parents or guardians to work or fulfill other commitments.

Researchers

Individuals engaged in conducting studies and investigations to acquire new knowledge or validate existing knowledge in various fields.

Infants

Young babies, typically considered to be in the age range from birth to one year, experiencing rapid development across various domains.