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    Intermediate Accounting Study Set 8
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    Exam 13: Current Liabilities and Contingencies
  5. Question
    Companies Should Accrue an Estimated Loss from a Loss Contingency
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Companies Should Accrue an Estimated Loss from a Loss Contingency

Question 81

Question 81

True/False

Companies should accrue an estimated loss from a loss contingency if information available prior to the issuance of financial statements indicates that it is probable that a liability has been incurred.

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