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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. Management felt it was probable that this would become an actual liability and the amount could be reasonably estimated. If this is reported on the balance sheet, 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
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Mrgo-breedMrgo-breed
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7 years ago
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H3Ko Author
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7 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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7 years ago
I'm liking this Slight Smile
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