26 A probable loss contingency is reasonably estimated within a range of possible amounts. No amount with a range is a better estimate than any other amounts within the range. The amount that should be accrued should be: Group of answer choices the upper amount of the range. zero. the average amount within the range. the lower amount of the range.
26 A probable loss contingency is reasonably estimated within a range of possible amounts. No amount with a range is a better estimate than any other amounts within the range. The amount that should be accrued should be: Group of answer choices the upper amount of the range. zero. the average amount within the range. the lower amount of the range.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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26
A probable loss contingency is reasonably estimated within a range of possible amounts. No amount with a range is a better estimate than any other amounts within the range. The amount that should be accrued should be:
Group of answer choices
the upper amount of the range.
zero.
the average amount within the range.
the lower amount of the range.
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