If a Reasonable Estimate of the Loss Cannot Be Made,then

question 50

Short Answer

If a reasonable estimate of the loss cannot be made,then a contingent liability should be recognized in the ____________________.

---

Definitions:

External Attributions

The process of attributing the cause of one's own or others' behaviors and outcomes to external factors.

Fundamental Attribution Error

The tendency for observers to over-emphasize dispositional factors and under-emphasize situational factors when explaining others' behaviors.

Personal Factors

Characteristics or attributes of an individual, including personality traits, beliefs, and life experiences, that influence behavior and reactions.

Overestimation

The action of assessing someone or something as greater or more significant than it actually is, often leading to unrealistic expectations.