FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Contingent Liabilities and Provisions
A contingent liability can be defined as a liability the occurrence of which is dependent upon the happening of an uncertain future event. It is generally recorded in the books only when the amount of liability can be reasonably estimated and the conting…
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Please do not rely too much on chatgpt, because its answer may be wrong. Please consider it carefully and give your own answer. You can borrow ideas from gpt, but please do not believe its answer.Very very grateful!Please do not rely too much on chatgpt, because its answer may be wrong. Please consider it carefully and give your own answer. You can borrow ideas from gpt, but please do not believe its answer.Very very grateful!
Accounting profit may include income or expenses that are not included in the taxable profit, and therefore accounting profit is not equal to taxable profit. O a. False O b. True
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Transcribed Image Text:Accounting profit may include income or expenses that are not included in the taxable profit, and therefore accounting profit is not equal to taxable profit. O a. False O b. True
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