If Management Can Estimate the Amount of Loss That Will

question 106

Multiple Choice

If management can estimate the amount of loss that will occur due to litigation against the company,and the likelihood of the loss is probable,a contingent liability should be

• A)Disclosed,but not reported as a liability.
• B)Disclosed and reported as a liability.
• C)Neither disclosed nor reported as a liability.
• D)Reported as a liability,but not disclosed.

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Definitions:

Employee Relations

The management of interactions between the organization and its employees, aiming to maintain positive working relationships.

Succession Management

Identifying and grooming new leaders to succeed the current ones when they exit, retire, or are deceased.

Outsourcing

The business strategy of hiring external organizations to handle specific business tasks or operations that were previously conducted internally.

HR Surveys

Tools used by human resources departments to gather feedback from employees about job satisfaction, engagement, and organizational policies.