1
Q
contingency liabilities is recorded when the chances are
A
probable and measurable
2
Q
contingent gains are recorded when
A
never recorded until the award is actually received.
FAR
flashcards
Decks in class (24)
# Cards
-
Consolidations23
-
income statements8
-
Government acctg98
-
contingencies2
-
stock25
-
lease19
-
general accounting64
-
fixed asset22
-
conceptual framework9
-
tax7
-
interest4
-
income statement16
-
investments14
-
frameworks notes20
-
inventory13
-
bond6
-
IFRS14
-
cash flow statement1
-
Encumbrances1
-
balance sheet1
-
derivative2
-
non for profit6
-
translation1
-
review7
