Q:

A disclosure of a contingent liability must be included in the footnotes to the financial statements when:

belongs to book: AUDITING & ASSURANCE SERVICES | A Systematic Approach|William F.Messier, Steven M.Glover, Douglas F. Prawitt|10th Edition| Chapter number:17| Question number:17.42

Ibrahimhamm

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2022-07-02

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A disclosure of a contingent liability must be included in the footnotes to the financial statements when:

The outcome of the events is judges to be reasonably possible
The loss can be reasonably estimated
The loss cannot be reasonably estimated
Both a and c

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Ibrahimhamm

2022-07-02

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D. Both a and c

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