Chideft Rel$/$tiefly leays

Knowledge Check $01$

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

recorded in the financial statements as a contingent liability.

disclosed in the notes while the lawsuit is outstanding.

disclosed in the notes when the lawsult is settled.

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

$17$

of $19$

Score answer