Which of the following would not be considered when evaluating whether to record a contingent loss for pending litigation? Group of answer choices the type of litigation involved the ability to make a reasonable estimate of the amount of the loss the probability of an unfavorable outcome time period in which the underlying cause of action occurred
Which of the following would not be considered when evaluating whether to record a contingent loss for pending litigation? Group of answer choices the type of litigation involved the ability to make a reasonable estimate of the amount of the loss the probability of an unfavorable outcome time period in which the underlying cause of action occurred
Auditing: A Risk Based-Approach (MindTap Course List)
11th Edition
ISBN:9781337619455
Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Chapter14: Completing A Quality Audit
Section: Chapter Questions
Problem 5RQSC
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Which of the following would not be considered when evaluating whether to record a contingent loss for pending litigation?
Group of answer choices
the type of litigation involved
the ability to make a reasonable estimate of the amount of the loss
the probability of an unfavorable outcome
time period in which the underlying cause of action occurred
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