Espinosa co. has a loss contingency to accrue. the loss, Ask an Expert

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Espinosa Co. has a loss contingency to accrue. The loss amount can only be reasonably estimated within a range of outcomes. No single amount within the range is a better estimate than any other amount. The amount of loss accrual should be:

a) zero.

b) the minimum of the range.

c) the mean of the range.

d) the maximum of the range.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9407142

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