Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. true or false....a certain contingent liability wa

true or false....A certain contingent liability was evaluated at year end; and considered to have...

60.1K

Verified Solution

Question

Accounting

true or false....A certain contingent liability was evaluated at year end; and considered to have a reasonable possibility of becoming an actual liability. if the accountant decided not to report it on the balance sheet or in the notes to the financial statements, this could be considered a violation of generally accepted accounting principles.

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Physics
1.2K views

There's a neat way to propagate light over long distances indefinitely. A) If you had two positive...

Mechanical Engineering
1.2K views

electric current flows through an infinitely long hollow cylindrical copper bar having internal and external diameters...

Accounting
1.2K views

Flip Flop Inc. (FFI) has a capacity to manufacture up to 100,000 flip flops annually in...

Physics
1.2K views

Section 1 Straight Objective Type This section contains 5 multiple choice questions Each question has...

Basic Math
1.2K views

se 13 5 1 Diagonalize 06

Algebra
1.2K views

In 1 8 match each expression with the correct choice to form an identity Choices...

Algebra
1.2K views

x 7x 6 0

Accounting
1.2K views

4) Suppose you are employed by a firm that has been tasked with storing two...

Accounting
1.2K views

Which Special Journal would the following transaction be journalized in? Sold merchandise on...

Accounting
1.2K views

Halifax Manufacturing allows its customers to return merchandise for any reason up to 90 days...

Accounting
1.2K views

what is the difference between job costing and process costing?

Accounting
1.2K views

Your client, Corp A is a company engaged in the property and household developer. The...