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Home Q & A Board Other Fields Homework Help Business Accounting
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harra harra
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6 years ago
A contingent liability that is likely and can be reasonably estimated should be:
A) disclosed in a note to the financial statements.
B) accrued with a journal entry.
C) either disclosed in a note or accrued with a journal entry.
D) ignored until the liability materializes.
Textbook 
Accounting, Volume 1, Canadian Edition

Accounting, Volume 1, Canadian Edition


Edition: 9th
Authors:
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migrodmigrod
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6 years ago
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harra Author
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#2
6 years ago
Very timely, excellent answer
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