Which of the following losses would only require footnote disclosure only? A)a probable loss with an amount that can be reasonably estimated B)a probable loss of a known amount C)a gain considered not probable D)a probable loss with an amount that cannot be reasonably estimated

Question

Quizplus · Accepted Answer

When a loss is probable but the amount cannot be reasonably estimated, it would require footnote disclosure only. The other options either require recognition and disclosure (A and B) or do not require any disclosure (C).

Which of the Following Losses Would Only Require Footnote Disclosure