Companies should accrue an estimated loss from a loss contingency if information available prior to the issuance of financial statements indicates that it is probable that a liability has been incurred.

Are you having trouble answering the question “Companies should accrue an estimated loss from a loss contingency if information available prior to the issuance of financial statements indicates that it is probable that a liability has been incurred.”? If that’s the case, you don’t need to worry anymore. Azanswer has brought you the correct answer to your question.

Companies should accrue an estimated loss from a loss contingency if information available prior to the issuance of financial statements indicates that it is probable that a liability has been incurred.

Answer: false

We hope you have got the correct answer to your question “Companies should accrue an estimated loss from a loss contingency if information available prior to the issuance of financial statements indicates that it is probable that a liability has been incurred.”, which was part of Accounting MCQs & Answers. Thanks for choosing us.