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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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7 years ago
A contingency was evaluated at year-end and considered to have a remote possibility of becoming an actual liability. If this is not reported on the balance sheet or in the notes to the financial statements, it could be considered a violation of generally accepted accounting principles.
A) True
B) False
Textbook 
Horngren's Financial & Managerial Accounting, The Financial Chapters

Horngren's Financial & Managerial Accounting, The Financial Chapters


Edition: 5th
Authors:
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H3Ko Author
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#2
7 years ago
I just realized you had posted this! Thanks so much
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#3
3 years ago
👌🏽
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