A Contingent Liability Is Recorded If It Is Probable and Can

question 145

True/False

A contingent liability is recorded if it is probable and can be reasonably estimated.

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Definitions:

Tobacco Use

The act of consuming tobacco products by smoking, chewing, or snuffing, often associated with health risks.

Management of Diabetes

The ongoing process of monitoring and treating diabetes to keep blood sugar levels within a target range and manage symptoms.

Retained Material

Items or substances that remain in the body unintentionally after a procedure or surgery, which can lead to complications.

Direct Observation

Direct Observation involves watching subjects in their natural environment without intervening or altering that environment, to gather data or insights.