A contingent liability is recorded (a) As part of the assets (b) As part of the shareholders

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A contingent liability is recorded

(a) As part of the assets

(b) As part of the shareholders’ equity and liabilities

(c) As part of the revenues

(d) As part of the expenses

(e) None of these AppendixLO1

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Financial Accounting And Reporting A Global Perspective

ISBN: 9781844802500

2nd Edition

Authors: Michel J. Lebas, Herve Stolowy, Michael Lebas

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