Question: A contingent liability must be recognized whenever An expense is paid in cash It is probable that a company owes a reasonably estable amount to

A contingent liability must be recognized whenever An expense is paid in cash It is probable that a company owes a reasonably estable amount to an outsida party A company is a defendant in pending litigation that could result in francial loss Acompany owem amount to an outside party, even if the amount carnot be reasonably determined

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