A contingent liability should be recorded in the accounts a. if the amount can be reasonably estimated.
Question:
A contingent liability should be recorded in the accounts
a. if the amount can be reasonably estimated.
b. if the amount is due in cash within one year.
c. if the related future event will probably occur.
d. Both b and c
e. Both a and c
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Related Book For 
Financial Accounting International Financial Reporting Standards
ISBN: 9780273777809
1st Global Edition
Authors: Walter T Harrison, Charles Horngren, Bill Thomas, Themin Suwardy
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