Question: This is first-year university accounting, please answer quickly. vestion 6 (1 point) Which of the folowing is correct with respect to a contingent liability that
This is first-year university accounting, please answer quickly.
vestion 6 (1 point) Which of the folowing is correct with respect to a contingent liability that is reasonably probable but cannot reasonably be estimated? It must be recorded and reported as a liability. It must only be disclosed as a note to the financial statements. It must be reported as a liability, but not recorded. ont does not need to be recorded or reported as a liability
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