Question: When is a contingent liability recorded? Select one: a. When there is a remote possibility that the future related event will occur and the amount

When is a contingent liability recorded?

Select one:

a. When there is a remote possibility that the future related event will occur and the amount can be reasonably estimated

b. When the amount can be reasonably estimated

c. When the related future event will probably occur and the amount can be reasonably estimated

d. When the amount is due in cash within one year

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