Asked by Susan Hudak on May 23, 2024
Verified
Reasonably possible likelihood of a liability
A)Current ratio
B)Working capital
C)Quick assets
D)Quick ratio
E)Record an accrual and disclose in the notes to the financial statements
F)Disclose only in notes to financial statements
G)No disclosure needed in notes to financial statements
Liability Likelihood
Refers to the probability that a company will be responsible for payment due to a debt, claim, or lawsuit.
- Identify the distinctions among distinct liabilities types and how they are disclosed in financial statements.
Verified Answer
RC
Learning Objectives
- Identify the distinctions among distinct liabilities types and how they are disclosed in financial statements.