Match each of the following items with the term or phrase (a-g) that best describes it. Terms or phrases may be used more than once.
-Probable likelihood and estimable liability
A)Current ratio
B)Working capital
C)Quick assets
D)Quick ratio
E)Record an accrual and disclose in the notes to the financial statements
F)Disclose only in notes to financial statements
G)No disclosure needed in notes to financial statements

Question

Quizplus · Accepted Answer

Probable likelihood and estimable liability are best addressed by recording an accrual and disclosing in the notes to the financial statements, as per accounting principles.

Match Each of the Following Items with the Term or Phrase