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Home Q & A Board Other Fields Homework Help Business Accounting
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H3Ko H3Ko
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8 years ago
A contingency was evaluated at year-end and considered to have a reasonable possibility of becoming an actual liability. If this was 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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.unplugged..unplugged.
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H3Ko Author
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#2
8 years ago
I posted this question a while back then forgot to check the forum lol Thanks for answering, you were right
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