Question: Which statement about contingent assets is correct? It involves only potential economic outflows of resources. It is a possible asset that depends upon the conclusion

Which statement about contingent assets is correct?
It involves only potential economic outflows of resources.
It is a possible asset that depends upon the conclusion of a future event.
It involves uncertainty about either the timing or amount of payment.
It is a condition that depends upon the conclusion of a forecasted event.
Which statement about contingent assets is

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