FASB Established the Use of the Terms "Probable," "Reasonably Possible

Multiple Choice

FASB established the use of the terms "probable," "reasonably possible," and "remote." It adopted these terms because

A) the available statistical techniques are not exact enough
B) the likelihood of ccurrence of future events can vary over a wide range
C) future gains are not easy to estimate
D) unnecessary estimates should not be recorded in the financial records