Multiple Choice
When a contingent liability exists the likelihood for loss can be evaluated as probable,reasonably possible,or remote.A probable loss is
A) a loss where the chance of occurrence is slight
B) a loss that is likely to occur
C) a loss where the chance of occurrence is moderate
D) falls between the chance of occurrence is slight and a loss is likely to occur
Correct Answer:
Verified
Correct Answer:
Verified
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