Question: A contingent liability that is likely and can be reasonably estimated should be: accrued with a journal entry. ignored until the liability materializes. either

A contingent liability that is likely and can be reasonably estimated should be: accrued with a journal

A contingent liability that is likely and can be reasonably estimated should be: accrued with a journal entry. ignored until the liability materializes. either disclosed in a note or accrued with a journal entry. disclosed in a note to the financial statements.

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