Basics of loss contingency

Assignment Help Accounting Basics

Reference no: EM13144028

A loss contingency that is remote and cannot be reasonably estimated:

A) may be disclosed in a note to the financial statements.

B) must be disclosed in a note to the financial statements.

C) must be reported in the body of the financial statements.

D) is permitted to be reported in the body of the financial statements.

Reference no: EM13144028

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