This question: $2$ point$(6)$ possible

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The international accounting standard for loss contingencies:

A$.$ defines the term contingency as a probable obligation that arises from a past event.

B$.$ contains the same language and requirements as the U$.$S$.$ standard.

C$.$ states that contingencies which are less than $50\%$ likely to occur should be disclosed in the financial statement footnotes.

D$.$ never allows a provision for contingencies to be recorded.

Time Remaining: $00$:$26$:$16$