Which of the Following Groups Has the Responsibility for Identifying

question 74

Multiple Choice

Which of the following groups has the responsibility for identifying and deciding the appropriate accounting treatment for recording or disclosing contingent liabilities?

• A) auditors
• B) legal counsel
• C) management
• D) management and the auditors

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Definitions:

Reinforces Negative

Anything that increases the likelihood of a negative behavior reoccurring by providing a consequence an individual finds rewarding.

Inappropriate

Describes actions or behaviors that are not suitable or acceptable in a given context.

Unacceptable Behavior

Unacceptable behavior refers to actions that are deemed inappropriate or disruptive based on societal, cultural, or specific context standards.

Express Feelings

The act of verbally or non-verbally communicating one's emotions to others.