Contingent liabilities whose ultimate payment is highly probable and can be reasonably estimated must be ignored until

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Contingent liabilities whose ultimate payment is highly probable and can be reasonably estimated must be

ignored until actual payment is made.disclosed only in the footnotes to the financial statements.recorded in the body of the balance sheet.disclosed in the auditor's report.

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Financial Accounting in an Economic Context

ISBN: 978-0470635292

8th Edition

Authors: Jamie Pratt

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Posted Date: May 16, 2020 01:20 PM

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Contingent liabilities whose ultimate payment is highly probable and can be reasonably estimated must be ignored until

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Correct Answer disclosed in the auditors report Explanation When a busine... View the full answer

Financial Accounting in an Economic Context

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