Examlex
An inferior good is one for which a(n) _____ in buyers' incomes causes a(n) _____.
Loss Contingencies
Potential losses that may occur in the future and are recorded in financial statements if they are probable and can be reasonably estimated.
Accrue
The process of recording expenses and revenues that have been incurred or earned, respectively, but not yet received or paid, in order to reflect the true financial position of an entity.
Estimated Loss
An anticipated loss that a company might suffer due to various risks and uncertainties, and which is accounted for in advance.
Appropriation
The allocation or setting aside of funds by a company for a specific purpose or the restriction of retained earnings distributed to shareholders.
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