Question: If a potential loss on a contingent liability is probable, and the amount of the loss cannot be reasonably estimated, the liability should be (Points

If a potential loss on a contingent liability is probable, and the amount of the loss cannot be reasonably estimated, the liability should be (Points : 5)

A. accrued and indicated in the body of the financial statements.

B.disclosed in the auditor's report, but not disclosed on the financial statements.

C. disclosed in footnotes, but not accrued.

D. neither accrued, nor disclosed, in footnotes.

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