Contingent Assets Should Be Recognized as Soon as They Are

question 55

True/False

Contingent assets should be recognized as soon as they are probable and can be reliably estimated.

---

Definitions:

Confront

To face in hostility or defiance; to oppose or challenge someone or something directly.

Racist

Characterized by or showing prejudice, discrimination, or antagonism against someone of a different race based on the belief that one's own race is superior.

Sexist

Discriminating against people based on their sex, often holding stereotypes or prejudices towards a particular gender.

Cognitive Dissonance Theory

The idea that people have such distaste for perceiving inconsistencies in their beliefs, attitudes, and behavior that they will bias their own attitudes and beliefs to try to deny inconsistencies.