Question: If a loss contingency is reasonably possible or the amount cannot be reasonably estimated, _______. A disclosure should occur in both the financial statements and

If a loss contingency is reasonably possible or the amount cannot be reasonably estimated, _______.

A disclosure should occur in both the financial statements and the notes to the financial statements

B disclosure should occur in the financial statements only

C then no disclosure is required only

D a disclosure in the notes is required

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