Which of the following best describes a contingent liability that is likely to occur but cannot be
Question:
Which of the following best describes a contingent liability that is likely to occur but cannot be reasonably estimated?
A. Reasonably possible
B. Probable and estimable
C. Probable and inestimable
D. Remote
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Contingent Liability A contingent liability is afuture expected liability which depends upon the occ...View the full answer
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Related Book For
Principles Of Accounting Volume 1 Financial Accounting
ISBN: 9781593995942
1st Edition
Authors: Mitchell Franklin, Patty Graybeal, Dixon Cooper, OpenStax
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