Orange Co. can estimate the amount of loss that will occur if a foreign government expropriates...
Orange Co. can estimate the amount of loss that will occur if a foreign government expropriates some of the company's assets in that country. If expropriation is reasonably possible, a loss contingency should be:
Multiple Choice
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Disclosed but not accrued as a liability.
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Disclosed and accrued as a liability.
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Accrued as liability but not disclosed.
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Neither accrued as a liability nor disclosed.
Homework Answers
| Option A is the answer | |
|
Loss contingency should be disclosed but not accrued as a liability as the event is 'reasonably possible'. Comment if you face any issues |
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Orange Co. can estimate the amount of loss that will occur if a
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