Liabilities that might arise from which of the following probably would be disclosed only in the notes to the financial statements?
A) A lawsuit with a reasonably estimable loss
B) Two year purchase agreement
C) Possible bankruptcy of an important customer
D) Estimated income taxes for the current year

Question

Quizplus · Accepted Answer

The Answer of Liabilities that might arise from which of the following probably would be disclosed only in the notes to the financial statements?
A) A lawsuit with a reasonably estimable loss
B) Two year purchase agreement
C) Possible bankruptcy of an important customer
D) Estimated income taxes for the current year

Liabilities That Might Arise from Which of the Following Probably