Orange Co Can Estimate the Amount of Loss That Will Occur

question 8

Multiple Choice

Orange Co. can estimate the amount of loss that will occur if a foreign government expropriates some of the company's asset in that country. If expropriation is reasonably possible, a loss contingency should be:

• A)Disclosed but not accrued as a liability.
• B)Disclosed and accrued as a liability.
• C)Accrued as liability but not disclosed.
• D)Neither accrued as a liability nor disclosed.

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