A contingent asset should be recorded in the following situation: a. When it is probable and can
Question:
A contingent asset should be recorded in the following situation:
a. When it is probable and can be reasonably estimated
b. When it is probable
c. When it is actually realized; no disclosure is permitted unless the settlement is probable but the company needs to avoid any misleading implications about its realization
d. When it can be reasonably estimated
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
c When it is actually realized no ...View the full answer
Answered By
William Otieno
I am a professional tutor and a writer with excellent skills that are important in serving the bloggers and other specialties that requires a great writer. The important aspects of being the best are that I have served so many clients with excellence
With excellent skills, I have acquired very many recommendations which have made it possible for me to survive as an excellent and cherished writer. Being an excellent content writer am also a reputable IT writer with essential skills that can make one turn papers into excellent result.
83+ Reviews
354+ Question Solved
Related Book For 
Fundamental Accounting Principles Volume II
ISBN: 978-1260305838
16th Canadian edition
Authors: Kermit Larson, Tilly Jensen, Heidi Dieckmann
Question Posted:
