If Both Required Conditions of Loss Contingencies Are Not Met,then

question 14

Multiple Choice

If both required conditions of loss contingencies are not met,then U.S.accounting standards require

• A)recording of loss contingencies if the loss is reasonably possible
• B)disclosure of loss contingencies if the loss is possible
• C)disclosure of loss contingencies if the loss is reasonably possible
• D)disclosure of loss contingencies if the loss is probable

---

Definitions:

Validity Rules

Guidelines or principles used to evaluate the correctness of the logical structure of arguments, ensuring that the conclusion follows from the premises.

Validity

The extent to which an argument's conclusion logically follows from its premises, without regard to the actual truth of the premises.

Invalidity

The state of being not valid, especially in reference to an argument or idea that does not follow logically.

Minor Premise

In a syllogism, the specific assertion or statement that, combined with the major premise, leads to a conclusion.