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 ...

Correct Option disclosed only in the footnotes to the financial statements Explanation Contingent li ...

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.

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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 03:36 PM

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Financial Accounting in an Economic Context

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