Top Posters
Since Sunday
I
3
p
2
w
2
y
2
J
2
Q
2
r
2
o
2
e
2
j
2
d
2
T
2
Home Q & A Board Other Fields Homework Help Business Accounting
New Topic  
goji.go goji.go
wrote...
Go to Answer
Posts: 5977
Rep: 293 0
10 years ago
After it prepares its financial statements, a hospital has historically received malpractice claims for events occurring before the balance sheet date. How should the hospital handle these incurred but not reported (IBNR) claims its financial statements?
      a.   take no action until it actually receives claims.
      b.   disclose, in the notes to its financial statements, that it historically receives IBNR claims; state that no estimate can be made of probable loss because no claims have been filed
      c.   estimate, based on past experience, the amount of probable loss on IBNR claims; report this amount in the notes
      d.   estimate, based on past experience, the amount of probable loss on IBNR claims; report this amount as an expense and a liability
Read 271 times
3 Replies
Diesel
Replies
Answer accepted by topic starter
f_zah1f_zah1
wrote...
#1
Top Poster
Posts: 10774
Rep: 1064 3
10 years ago
Sign in or Sign up in seconds to unlock everything for free
1

Related Topics

goji.go Author
wrote...
#2
10 years ago
Thanks so much f_zah1.

You were correct Smiling Face with Open Mouth
Diesel
wrote...
#3
10 years ago
You're very welcome!
New Topic      
Quick Reply
Explore
Post your homework questions and get free online help from our incredible volunteers
  1639 People Browsing
Start New Topic Take the Tour CoursesNew Study Tools Topics Trending Browse by Textbook
Related Images
  
 284
  
 1092
  
 315
Your Opinion
What percentage of nature vs. nurture dictates human intelligence?
Votes: 437
Previous poll results: Which industry do you think artificial intelligence (AI) will impact the most?