$08]$ Under current ASPE requirements, a contingent liability is recognized if

a$.$ The amount of the loss can be reliably estimated and it is probable that an asset has been impaired or a liability incurred as of the financial statement date.

b$.$ The amount of the loss can be measured reliably and it is likely that an asset has been impaired or a liability incurred as of the financial statement date.

c$.$ It relates to a lawsuit commenced after the balance sheet date, the outcome of which can be reliably measured.

d$.$ It relates to an asset recognized as impaired after the balance sheet date.

e$.$ The company is mandated to pay the amount of the loss under a court order before the end of the financial statement date.