If a Contingency That Is Probable Can Be Reasonably Estimated,a

question 216

True/False

If a contingency that is probable can be reasonably estimated,a liability is recorded and an expense is accrued.

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Definitions:

Product Benefit

The value or advantage that a product offers to the customer, addressing their needs or solving their problems, often used as a key selling point.

Buyer

An individual or organization that purchases goods or services.

Use

The application or operation of something for its intended purpose or function.

Black Box

In technology and psychology, a system or process whose internal workings are not visible or understood but can be observed by its inputs and outputs.