Multiple Choice
To disclose a contingent liability means:
A) report it as a footnote.
B) disclose and make a journal entry.
C) make an adjusting journal entry.
D) do nothing.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q62: Mike's Pharmacy sold inventory with a selling
Q63: Short-term notes payable are notes payable due
Q64: Accounts payable turnover is an important measure
Q65: Short-term notes payable to banks are often
Q66: On December 31st,Datton,Inc.has cost of goods sold
Q68: Large companies,like Amazon,typically pay most of their
Q69: Accounts payable turnover measures the number of
Q70: Mariano Corporation sells 11,000 units of inventory
Q71: The FASB provides guidelines to account for
Q72: Some liabilities,such as accrued salaries and rent,are