The actual monetary amount which results from resolution of the underlying transaction(s),event(s),or condition(s)addressed by the accounting estimate is known as ________.
A)estimation uncertainty
B)outcome of an accounting estimate
C)management bias
D)management's point estimate

Question

Quizplus · Accepted Answer

The outcome of an accounting estimate is the actual monetary amount that results from the resolution of the underlying transaction(s), event(s), or condition(s) addressed by the accounting estimate. Estimation uncertainty refers to the range of possible outcomes and the degree of confidence surrounding an accounting estimate. Management bias is the intentional manipulation of an accounting estimate for personal gain or to meet certain goals, and management's point estimate is their best guess at the outcome of an accounting estimate.

The Actual Monetary Amount Which Results from Resolution of the Underlying