Answer:
TRUE
Explanation:
It is true that under the all-events test, in addition to specifying that all events to establish the liability must have occurred, the test also provides that the business must be able to determine the amount of the liability with reasonable accuracy
Under Sec. 461(h), a three-prongall-events test is met when
(1) all events have occurred that establish the fact of the liability;
(2) <u>the amount of the liability can be determined with reasonable accuracy</u>; and
(3) economic performance has occurred.
Answer:
a
Explanation:
Property risk is an example of a pure risk.
Pure risks are risks in which loss is the only possible outcome. It could be full loss or partial loss. Other examples of pure risks are personal and liability risks
Property risk is the risk that a person or company's property would be damaged or lost.
For example, if a building is set on fire or if a car is stolen
The economy is consider to be at full employment.
