Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. which of the following is not an acceptable method

Which of the following is NOT an acceptable method of reporting contingent liabilities on the...

50.1K

Verified Solution

Question

Accounting

image

Which of the following is NOT an acceptable method of reporting contingent liabilities on the Balance Sheet? 0 A. If it is reasonably possible that they will occur, disclose the existence and circumstances of the liabilities in the footnotes. B. Report the liabilities in the current or long-term liability section if they are reasonably possible. C. Do not report if they are very unlikely to occur 0 D. Disclose the liabilities in the footnotes if they are probable, but the amount cannot be reasonably estimated

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

Programming
1.2K views

Complete a) flowchart solution and b) working Python solution. It will need to compare gene sequences, looking...

Physics
1.2K views

In this example we will apply the concept of the de Broglie wavelength to neutrons. Find...

Biology
1.2K views

The purpose of a good research or guiding question is what Select ALL that apply...

Physics
1.2K views

A ring of radius r carries a charge Q uniformly distributed over its length A...

Physics
1.2K views

The wire loop of radius R shown in the figure carries an anticlockwise current I...

Geometry
1.2K views

To calculate the cost of painting his silo a farmer must find its height The...

Basic Math
1.2K views

Translate the logarithmic statement into an equivalent exponential statement 1 log 4 1024 5 The...

Accounting
1.2K views

Cara Loren and Cami formed t o n c a journal partnership as equal Partners...

Accounting
1.2K views

Financial statement impact of a lease On January 1, 2017, Kiger Manufacturing company...

Accounting
1.2K views

X Company is constructing a building. Construction began in 2018 and the building was completed...

Accounting
1.2K views

Exercise 7-17 Preparation of cash budgets (for three periods) Lo P2 Kayak Co budgeted the...

Accounting
1.2K views

E7.5 (Algo) Calculating Ending Inventory and Cost of Goods Sold Under FIFO, LIFO, and Average...