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How do contingent assets differ from provisions? a) Recognition timing remains the same b) Both types follow identical rules c) Probable inflows need different recognition criteria than outflows d) Measurement approaches never vary

How do contingent assets differ from provisions? a) Recognition timing remains the same b) Both types follow identical rules c) Probable inflows need different recognition criteria than outflows d) Measurement approaches never vary

Accounting Information Systems
Accounting Information Systems
10th Edition
ISBN:9781337619202
Author:Hall, James A.
Publisher:Hall, James A.
Chapter14: Auditing It Controls Part I: Sarbanes-oxley And It Governance
Section: Chapter Questions
Problem 3RQ
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How do contingent assets differ from provisions? a) Recognition timing remains the same b) Both types follow identical rules c) Probable inflows need different recognition criteria than outflows d) Measurement approaches never vary
Transcribed Image Text:How do contingent assets differ from provisions? a) Recognition timing remains the same b) Both types follow identical rules c) Probable inflows need different recognition criteria than outflows d) Measurement approaches never vary
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