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If a contingent liability is probable and the amount of the liability can be reasonably estimated, it is a. not recorded but should be disclosed. b. recorded and disclosed. c. r…

If a contingent liability is probable and the amount of the liability can be reasonably estimated, it is a. not recorded but should be disclosed. b. recorded and disclosed. c. r…
asked 160k views
20 votes
If a contingent liability is probable and the amount of the liability can be reasonably estimated, it is

a. not recorded but should be disclosed.
b. recorded and disclosed.
c. recorded only.
d. not recorded and not disclosed.

asked
User Amritpal Nagra
by
8.2k points

1 Answer

8 votes
B. Recorded and disclosed
answered
User Divyang Patel
by
8.4k points
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