How should a contingent liability that has an unlikely chance of occurring and is insignificant in size be disclosed? $\begin{array}{lll}&\text { Accrual}&\text { Footnote }\\hline
\text { a. } & \text { No } & \text { Yes } \
\text { b. } & \text { No } & \text { No } \
\text { c. } & \text { Yes } & \text { No } \
\text { d. } & \text { Yes } & \text { Yes }
\end{array}$

Question

How should a contingent liability that has an unlikely chance of occurring and is insignificant in size be disclosed? $\begin{array}{lll}&\text { Accrual}&\text {  Footnote }\\hline
\text { a. } & \text { No } & \text { Yes } \
\text { b. } & \text { No } & \text { No } \
\text { c. } & \text { Yes } & \text { No } \
\text { d. } & \text { Yes } & \text { Yes }
\end{array}$

Quizplus · Accepted Answer

The Answer of How should a contingent liability that has an unlikely chance of occurring and is insignificant in size be disclosed? $\begin{array}{lll}&\text { Accrual}&\text {  Footnote }\\hline
\text { a. } & \text { No } & \text { Yes } \
\text { b. } & \text { No } & \text { No } \
\text { c. } & \text { Yes } & \text { No } \
\text { d. } & \text { Yes } & \text { Yes }
\end{array}$

How Should a Contingent Liability That Has an Unlikely Chance