Question: Question 2 A company should accrue a liability for a loss contingency if it is 'reasonably possible' that a potential loss will occur and the

Question 2
A company should accrue a liability for a loss contingency if it is 'reasonably possible' that a potential loss will occur and the an loss is known.
True
False
Question 3
Which of the following is not a characteristic of a liability?
It represents a probable, future sacrifice of economic benefits.
Question 2 A company should accrue a liability

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