which of the following statements is not true? 1) indirect guarantees should nor
ID: 2447067 • Letter: W
Question
which of the following statements is not true? 1) indirect guarantees should normally be disclosed by footnote, not by accrual. 2) losses may be accrued for unasserted claims and other potential unfiled lawsuits. 3) loss contingencies should be disclosed if there is just a reasonable possibility of a loss. 4) in the case of loss contingencies, accrual can be made even if the exact payee and payment date are not known. which of the following statements is not true? 1) indirect guarantees should normally be disclosed by footnote, not by accrual. 2) losses may be accrued for unasserted claims and other potential unfiled lawsuits. 3) loss contingencies should be disclosed if there is just a reasonable possibility of a loss. 4) in the case of loss contingencies, accrual can be made even if the exact payee and payment date are not known. which of the following statements is not true? 1) indirect guarantees should normally be disclosed by footnote, not by accrual. 2) losses may be accrued for unasserted claims and other potential unfiled lawsuits. 3) loss contingencies should be disclosed if there is just a reasonable possibility of a loss. 4) in the case of loss contingencies, accrual can be made even if the exact payee and payment date are not known.Explanation / Answer
Answer is option (1) indirect guarantees should normally be disclosed by footnote, not by accrual.
Related Questions
Navigate
Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.