Which of the following does not require disclosure in the financial statements? choices: There is a present obligation that probably requires an outflow of resources that can be measured reliably. There is a present obligation that probably requires an outflow of resources but the amount cannot be measured reliably. There is a possible obligation or a present obligation that may, but probably will not require an outflow of resources There is a possible obligation or a present obligation where the likelihood of an outflow of resource is remote.
Which of the following does not require disclosure in the financial statements? choices: There is a present obligation that probably requires an outflow of resources that can be measured reliably. There is a present obligation that probably requires an outflow of resources but the amount cannot be measured reliably. There is a possible obligation or a present obligation that may, but probably will not require an outflow of resources There is a possible obligation or a present obligation where the likelihood of an outflow of resource is remote.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following does not require disclosure in the financial statements?
choices:
There is a present obligation that probably requires an outflow of resources that can be measured reliably.
There is a present obligation that probably requires an outflow of resources but the amount cannot be measured reliably.
There is a possible obligation or a present obligation that may, but probably will not require an outflow of resources
There is a possible obligation or a present obligation where the likelihood of an outflow of resource is remote.
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