One of the primary approaches in dealing with uncertainties in loss contingencies uses a ________ threshold.
A)monetary
B)materiality
C)probability
D)analytical

Question

Quizplus · Accepted Answer

The primary approach in dealing with uncertainties in loss contingencies is the probability threshold, which assesses the likelihood of the contingency occurring to determine if it should be recognized or disclosed in financial statements.

One of the Primary Approaches in Dealing with Uncertainties in Loss