Which of the Following Statements Regarding Contingencies Is True

question 72

Multiple Choice

Which of the following statements regarding contingencies is true?

• A)Contingencies that are probable and not estimable appear on the balance sheet.
• B)Contingencies that are probable and not estimable are disclosed in the notes to the financial statements.
• C)Contingencies that are remote but estimable are disclosed in the notes to the financial statements.
• D)Contingent assets are recorded on the balance sheet,but not in the notes to the financial statements.

---

Definitions:

Histogram

A graphical representation that displays data by way of bars to show the frequency of numerical data intervals.

Symmetric

Having attributes that are mirrored equally across a central axis or around a central point.

Skewed

A description of a distribution that is not symmetrical, with a majority of data points lying on one side of the mean.

Width

The measurement of the extent of something from side to side, often used in reference to dimensions of objects.