What is a contingent liability and how should it be disclosed for financial reporting purposes?

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Financial Accounting

ISBN: 9781743767382

9th Edition

Authors: Craig Deegan

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Question Posted: Sep 03, 2023 06:11 AM

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What is a contingent liability and how should it be disclosed for financial reporting purposes?

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Paragraph 10 of AASB 137 defines a contingent liability as a A possible obligation that arises from ...View the full answer

Financial Accounting

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