A Contingent Liability Should Be Disclosed in the Notes to the Financial

question 85

True/False

A contingent liability should be disclosed in the notes to the financial statements if there is a reasonable possibility that a loss (or expense)will occur.

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Definitions:

Slope

A measure of the steepness or incline of a line, often represented as the ratio of the change in the y-value over the change in the x-value between two points on the line.

True Regression Line

The exact linear relationship between the independent and dependent variables in a population.

Equation

A mathematical statement that asserts the equality of two expressions, typically shown by the use of an equals sign.

Simple Linear Regression Model

A statistical model that describes the linear relationship between a single independent variable and a dependent variable using a straight line.