The treatment of loss contingencies required in SFAS No. 5 is an example of:

Name: The treatment of loss contingencies required in SFAS No. 5 is an example of:
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The treatment of loss contingencies under SFAS No. 5 requires companies to recognize and disclose potential losses that are both probable and reasonably estimable. This approach is considered conservative because it requires companies to recognize potential losses even before they are certain to occur.

The Treatment of Loss Contingencies Required in SFAS No