A Contingency That Is Remote

question 3

Multiple Choice

A contingency that is remote:

• A) should be disclosed in the financial statements.
• B) does not need to be disclosed.
• C) must be accrued as a loss.
• D) is recorded as a contingent liability.

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Definitions:

Reinforcement

In behavioral psychology, a concept referring to any process that increases the likelihood of a particular response or behavior by providing a reward.

Durable Change

Long-lasting alteration in behavior or knowledge due to experience or learning.

Initial Stage

The earliest phase in a process or sequence, often characterized by the first signs or actions that mark the beginning of something.

Conditioned Response

A learned response to a previously neutral stimulus that becomes associated with an unconditioned stimulus.