Question: When should an acquirer derecognize a contingent liability recognized as the result of an acquisition? a. When it becomes more likely than not that the

When should an acquirer derecognize a contingent liability recognized as the result of an acquisition?

a. When it becomes more likely than not that the firm will not be liable.

b. When the contingency is resolved.

c. At the end of the year of acquisition.

d. When it is reasonably possible that the liability will not require payment.

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