When estimating amounts for accruals, it is not important that the estimate is supportable or verifiable because it is just an estimate.

Name: When estimating amounts for accruals, it is not important that the estimate is supportable or verifiable because it is just an estimate.
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Question

Quizplus · Accepted Answer

Estimates for accruals should be supportable and verifiable to ensure accuracy and reliability in financial reporting, as they impact financial statements and decision-making.

When Estimating Amounts for Accruals, It Is Not Important That