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yosie yosie
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A year ago
Contingent liability disclosure in the footnotes of the financial statements would normally be made when

▸ the outcome of the accounting event is deemed probable, but a reasonable estimation as to the amount cannot be made by the client or auditor.

▸ a reasonable estimation of the loss can be made, but the outcome is not probable.

▸ the outcome of the accounting event is deemed probable, and a reasonable estimation as to the amount can be made.

▸ the outcome of the accounting event as well as a reasonable estimation of the loss cannot be made.
Textbook 
Auditing and Assurance Services

Auditing and Assurance Services


Edition: 17th
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mooltipasmooltipas
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A year ago
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yosie Author
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A year ago
Correct Slight Smile TY
mcraver1
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Thank you, thank you, thank you!
jakechambo3
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