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Obtain the relevant authoritative literature on recognition of contingent losses. What is the specific eight-digit Codification citation (XXX-XX-XX-X) that describes the guidelines for determining when an expense and liability should be accrued for a contingent loss.

Respuesta :

marlontshimanga

Answer:

310-10-50-8

Codification citation for trade receivables that do not accrue interent until a specified period has elapsed, non accrual status would be the point when accrual is suspended after the receivable becomes past due.

Explanation:

Accounting standards codification is the source of authoritative generally accepted accounting principles (GAAP) recognized by the FASB to be applied to non governmental entities.

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