A Company Should Accrue a Loss Contingency Only If the Likelihood

question 104

Multiple Choice

A company should accrue a loss contingency only if the likelihood that a liability has been incurred is:

• A) More likely than not and the amount of the loss is known.
• B) At least reasonably possible and the amount of the loss is known.
• C) At least reasonably possible and the amount of the loss can be reasonably estimated.
• D) Probable and the amount of the loss can be reasonably estimated.

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Definitions:

IV Bolus

The rapid administration of a medication or fluid directly into the bloodstream via an intravenous line.

Aspirate For Blood Return

A technique used in medical procedures to ensure that a needle or catheter is correctly positioned in a vein by drawing back on the syringe to see if blood enters, indicating proper placement.

Perform Hand Hygiene

Performing hand hygiene involves effectively washing and cleaning hands to remove dirt, germs, and harmful substances.

Rate Of Distribution

A measure of how quickly and extensively a substance is spread or dispersed within a system or area.