a. Give an example of a contingent liability that is probable and reasonably estimable. How would this
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a. Give an example of a contingent liability that is probable and reasonably estimable. How would this type of liability be shown in the accounting records?
b. Give an example of a contingent liability that is reasonably possible or probable but not reasonably estimable. How would this type of liability be shown in the accounting records?
c. Give an example of a contingent liability that is remote. How is this type of liability shown in the accounting records?
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Related Book For 
Introductory Financial Accounting for Business
ISBN: 978-1260299441
1st edition
Authors: Thomas Edmonds, Christopher Edmonds
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