$3$:$2259$

Knowledge Check $01$

A potential legal claim which is probable and the armount can be reasonably estimated should be:

recorded in the financial statements as a contingentliability.

disclosed in the notes while the lawsuit is outstanding.

disclosed in the notes when the lawsuit is settled.

is a potential liability that has arisen because of a past event or transaction.

Prey

$6$

of $6$

Next