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

A contingent liability that is likely and can be reasonably estimated

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

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