For each of the following independent situations, indicate whether it should be recorded as a provision or disclosed as a contingent liability for a publicly traded company reporting under IFRS. Indicate if your answer would change if the company were a private company reporting under ASPE.

(a) A pending lawsuit for which a negative outcome has been estimated and determined to be “likely”
(b) A pending lawsuit, about which the outcome cannot be determined
(c) A nuisance lawsuit, which the company is not anticipated to lose
(d) A loan guarantee for a subsidiary company that has a credit rating of AA