A contingent liability that is likely and can be reasonably estimated should be a. Accrued as an

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A contingent liability that is likely and can be reasonably estimated should be

a. Accrued as an expense and reported as a liability

b. Only disclosed in a note to the financial statements

c. Either disclosed in a note or accrued with a journal entry depending on the amount

d. Ignored until the liability materializes

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Horngrens Accounting Volume 1

ISBN: 9780135359709

11th Canadian Edition

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol Meissner, JoAnn Johnston, Peter Norwood

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Question Posted: May 10, 2024 04:02 AM

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A contingent liability that is likely and can be reasonably estimated should be a. Accrued as an

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Horngrens Accounting Volume 1

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