When Determining How Businesses Record or Do Not Record Contingent

question 105

Multiple Choice

When determining how businesses record or do not record contingent liabilities, which is not one of the three likelihoods that that are considered?

• A) remote
• B) reasonably probable
• C) probable
• D) reasonably possible

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Definitions:

Sample Mean

Mean calculated from data for a sample.

Confidence Interval

A set of values, taken from sampled data, that potentially covers the value of an unknown parameter of the population.

Mean Score

The average value calculated by adding all individual scores and dividing by the number of scores.

Confidence Interval

A collection of values, extracted from sample measurements, likely to harbour the value of an undetected population parameter.