Question: solve A contingent liability: Select one ) A. ls ignored in financial reporting until it becomes an actual liability. B. Is only disclosed in the

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solve A contingent liability: Select one ) A. ls
A contingent liability: Select one ) A. ls ignored in financial reporting until it becomes an actual liability. B. Is only disclosed in the footnotes if the likelihood of the liability is remote. . Is recorded only if the amount can be reasonably estimated and it is probable the liability will be incurred. ) D. Is always recorded at its maximum possible value

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