Question: A contingent liability: multiple choice is only remotely possible. cannot be estimated. will result from a future event. is a potential liability that has arisen

A contingent liability:
multiple choice
is only remotely possible.
cannot be estimated.
will result from a future event.
is a potential liability that has arisen because of a past event or transaction.
will only result when a remote event becomes probable.
is remotely estimable and probable.

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