Harriet Ltd. has a likely loss that can only be reasonably estimated within a range of outcomes. No single amount within the range is a better estimate than any other amount. Under ASPE, the loss accrual should be
A) zero.
B) the maximum of the range.
C) the mean of the range.
D) the minimum of the range.

Question

Quizplus · Accepted Answer

Under ASPE, when a loss can only be estimated within a range and no amount within that range is a better estimate than any other, the minimum amount in the range should be accrued.