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(1) Discuss the following: a. Initial measurement of financial liabilities b. Subsequent measurement of financial liabilities c. Transaction cost d. Recognition of Liabilities e. Contingent
(1) Discuss the following:
a. Initial measurement of financial liabilities
b. Subsequent measurement of financial liabilities
c. Transaction cost
d. Recognition of Liabilities
e. Contingent Liabilities
(2) Create a financial statement that shows the difference between contingent asset and contingent liability.
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