Question: a. Explain a loss contingency. Provide examples. b. Explain the two conditions necessary before a company can record a loss contingency against income.

a. Explain a loss contingency. Provide examples.
b. Explain the two conditions necessary before a company can record a loss contingency against income.

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334. a. Explain a loss contingency. Provide examples. b. Explain the two conditions necessary before a company can record a loss contingency against income.

a. Explain a loss contingency. Provide examples. b. Explain the two conditions necessary before a company can record a loss contingency against income.

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