This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Contingent liability disclosure in the footnotes of the financial statements would normally be made when (Read 48 times)

caca31

  • Full Member
  • ***
  • Posts: 145
on: Aug 21, 2022

Question 1

Audit procedures related to contingent liabilities are initially focused on
◦ accuracy.
◦ completeness.
◦ existence.
◦ occurrence.

Question 2

Contingent liability disclosure in the footnotes of the financial statements would normally be made when
◦ the outcome of the accounting event is deemed probable, but a reasonable estimation as to the amount cannot be made by the client or auditor.
◦ a reasonable estimation of the loss can be made, but the outcome is not probable.
◦ the outcome of the accounting event is deemed probable, and a reasonable estimation as to the amount can be made.
◦ the outcome of the accounting event as well as a reasonable estimation of the loss cannot be made.
Auditing and Assurance Services ¦ Arens, Elder, Beasley, Hogan ¦ 17th Edition
Buy Test-Bank


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by caca31 on Aug 21, 2022

RodrickHac

  • Full Member
  • ***
  • Posts: 174
    • anestencream.com
Reply #1 on: Aug 21, 2022
Lorsum iprem. Lorsus sur ipci. Lorsem sur iprem. Lorsum sur ipdi, lorsem sur ipci. Lorsum sur iprium, valum sur ipci et, vala sur ipci. Lorsem sur ipci, lorsa sur iprem. Valus sur ipdi. Lorsus sur iprium nunc, valem sur iprium. Valem sur ipdi. Lorsa sur iprium. Lorsum sur iprium. Valem sur ipdi. Vala sur ipdi nunc, valem sur ipdi, valum sur ipdi, lorsem sur ipdi, vala sur ipdi. Valem sur iprem nunc, lorsa sur iprium. Valum sur ipdi et, lorsus sur ipci. Valem sur iprem. Valem sur ipci. Lorsa sur iprium. Lorsem sur ipci, valus sur iprem. Lorsem sur iprem nunc, valus sur iprium.
Answer Preview
Only 35% of students answer this correctly


caca31

  • Member
  • Posts: 145
Reply 2 on: Aug 21, 2022
:D TYSM

adammoses97

  • Member
  • Posts: 337
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

Children of people with alcoholism are more inclined to drink alcohol or use hard drugs. In fact, they are 400 times more likely to use hard drugs than those who do not have a family history of alcohol addiction.

Did you know?

More than 20 million Americans cite use of marijuana within the past 30 days, according to the National Survey on Drug Use and Health (NSDUH). More than 8 million admit to using it almost every day.

Did you know?

Every flu season is different, and even healthy people can get extremely sick from the flu, as well as spread it to others. The flu season can begin as early as October and last as late as May. Every person over six months of age should get an annual flu vaccine. The vaccine cannot cause you to get influenza, but in some seasons, may not be completely able to prevent you from acquiring influenza due to changes in causative viruses. The viruses in the flu shot are killed—there is no way they can give you the flu. Minor side effects include soreness, redness, or swelling where the shot was given. It is possible to develop a slight fever, and body aches, but these are simply signs that the body is responding to the vaccine and making itself ready to fight off the influenza virus should you come in contact with it.

Did you know?

You should not take more than 1,000 mg of vitamin E per day. Doses above this amount increase the risk of bleeding problems that can lead to a stroke.

Did you know?

The oldest recorded age was 122. Madame Jeanne Calment was born in France in 1875 and died in 1997. She was a vegetarian and loved olive oil, port wine, and chocolate.

The fibers in silk cloth and in a spider web are made up of the protein fibroin The fibers in silk cloth and in a spider web are made up of the protein fibroin
The fibers are made up of many myofibrils The fibers are made up of many myofibrils
Emanuel Leutze’s Washington Crossing the Delaware (1851) is riddled with historical inaccuracies, mo Emanuel Leutze’s Washington Crossing the Delaware (1851) is riddled with historical inaccuracies, mo
How to convert verbal statements into algebraic equations (Part 2) How to convert verbal statements into algebraic equations (Part 2)
Photosynthesis: How Glucose Is Made During photosynthesis, the leaves of green plants absorb Photosynthesis: How Glucose Is Made During photosynthesis, the leaves of green plants absorb
E9-23 Prepare income statements Explain the difference in operating income E9-23 Prepare income statements Explain the difference in operating income
Video: Adolescent Diabetes

For a complete list of videos, visit our video library