The threshold for disclosure for contingent assets differs from that for contingent liabilities. Why is this the

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The threshold for disclosure for contingent assets differs from that for contingent liabilities. Why is this the case? Can you see a problem with this difference in thresholds in the context of a lawsuit?

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Financial Accounting For Decision Makers

ISBN: 9781292251257

9th Edition

Authors: Peter Atrill, Eddie McLaney

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Question Posted: Aug 23, 2023 07:07 AM

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The threshold for disclosure for contingent assets differs from that for contingent liabilities. Why is this the

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Step by Step Answer:

The difference in thresholds for disclosure between contingent assets and contingent liabilities stems from the nature of these two concepts and their potential impact on an organizations financial po...View the full answer

Financial Accounting For Decision Makers

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