Regarding a contingent liability,when no amount within a range of potential losses appears more likely than others,we record the maximum amount in the range.

Name: Regarding a contingent liability,when no amount within a range of potential losses appears more likely than others,we record the maximum amount in the range.
Brand: Quizplus
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Question

Quizplus · Accepted Answer

When no amount within a range of potential losses is more likely than others, the minimum amount in the range is recorded, not the maximum.

Regarding a Contingent Liability,when No Amount Within a Range of Potential