A loss contingency that is remote and cannot be reasonably, Ask an Expert

Accounting

A loss contingency that is remote and cannot be reasonably estimated:

A) may be disclosed in a note to the financial statements.

B) must be disclosed in a note to the financial statements.

C) must be reported in the body of the financial statements.

D) is permitted to be reported in the body of the financial statements.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M975645

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