$9$:$54$

$46$

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$25$

$4$

$1$

$83\%$

Which of the following situations would not be required to be recorded in the financial statements or reported as a note to the financial statements?

Select Your Answer

The liability is probable, but the amount cannot be reasonably estimated.

The liability is possible, but cannot be reasonably estimated.

The liability is remote and estimated to be $$30,000.$

The liability is probable and estimated to be $$10,000.$

The liability is possible and estimated to be $$25,000.$

Concept Resources

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