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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
Which of the following is the proper treatment for a contingency that is probable but the exact amount of which is not known? The amount can be estimated.
A) The liability should be ignored.
B) The liability should be doubled following conservatism.
C) The liability should be estimated and recorded.
D) The liability should be reported in the notes to the financial statements.
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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#1
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8 years ago
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H3Ko Author
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#2
8 years ago
Really appreciate your help. Sorry for taking so long to thank you, you deserve the recognition.
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#3
4 years ago
This definitely isnt a reply just to see the answer
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