When examining financial statements, a note that describes contingencies should be reviewed closely for possible significant liabilities

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When examining financial statements, a note that describes contingencies should be reviewed closely for possible significant liabilities that are not disclosed on the face of the balance sheet. Comment.

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Financial Reporting and Analysis Using Financial Accounting Information

ISBN: 978-1439080603

12th Edition

Authors: Charles H Gibson

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Question Posted: Jun 22, 2012 09:26 AM

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When examining financial statements, a note that describes contingencies should be reviewed closely for possible significant liabilities

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True Significant potential liabilities may be described in the con...View the full answer

Financial Reporting and Analysis Using Financial Accounting Information

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