Occurrences That Have the Potential to Affect the Entity in Some

question 24

Short Answer

Occurrences that have the potential to affect the entity in some way,but that will not be recorded as business transactions until an exchange of goods or services takes place between the entity and an outside party are known as ______________ ______________.

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Definitions:

One-Fifth

A fraction equivalent to 20 percent of a whole.

Nonspectral Colors

Colors not found in the visible spectrum of light, such as magenta or pink, created by mixing different wavelengths of light.

Complementary

Things or factors that together enhance or complete each other's qualities, providing a synergistic effect.

White Light

Electromagnetic radiation that is visible to the human eye and is perceived as colorless. It contains all wavelengths of the visible spectrum.