True/False
A contingent liability that has a remote probability of occurrence must be disclosed in a note to the financial statements.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q60: Notes payable usually require the borrower to
Q136: Analysts use the quick ratio to assess
Q138: In 20X2, The W D Company
Q139: The following data were provided by
Q140: The trade payables turnover ratio can indicate
Q141: Simple interest is calculated as: Principal ×
Q142: For the future value of a single
Q143: A company receives $111, of which $11
Q145: Situations which require that future income tax
Q146: A contingent liability that is "probable" and