If a company is using ASPE, under what circumstances are a contingent loss and the related liability

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If a company is using ASPE, under what circumstances are a contingent loss and the related liability recorded in the accounts? Under what circumstances are they disclosed only in the notes to the financial statements?

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Accounting Principles Part 2

ISBN: 978-1118306796

6th Canadian edition Volume 1

Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow

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Question Posted: Mar 30, 2017 12:18 PM

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If a company is using ASPE, under what circumstances are a contingent loss and the related liability

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Under ASPE if a contingent liability is both likely to occur and reasonably estimable it ...View the full answer

Accounting Principles Part 2

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