Business, 17.03.2020 19:38 selenamr

Match the following terms to the appropriate definition (or partial deﬁnition). Each definition is used once."Deﬁnltlon (or Partial Deﬁnition)in A contractual obligation to carry out a transaction at specified terms in the future. ontingent Material commitments should be disclosed in the financial statements. liabilityeneral risk A possible liability, stemming from past events, that will be resolved as to existence andontingency. Iron curtain -mount by some future event.- pproach- Known 3. A possible loss, stemming from past events, that will be resolved as to existence andmisstatementsLikely - mount by some future event. misstatements' Loss . A n approach to making materiality judgments that quantifies the total likely misstateontingencyh. Rollover ment as of the current year-end based on the effects of reflecting all misstatements- pproachincluding projecting misstatements where appropriate) existing in the balance sheet at. the end of theurrent year, irrespective of whether the misstatements occurred in the current year or previous years.

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Match the following terms to the appropriate definition (or partial deﬁnition). Each definition is u...