According to IFRS, what is a contingent liability? How do IFRS require contingent liabilities to be accounted
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Contingent liabilities
A contingent liability is an obligation of business related to an uncertain future event. The business must record it in its financial statements if the amount can be reliably estimated and it is probable that amount will be paid by business as a...
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A contingent liability is i A possible obligation wh...View the full answer
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