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2. If management can estimate the amount of loss that will occur due to litigation against the company, and the likelihood of the loss

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2. If management can estimate the amount of loss that will occur due to litigation against the company, and the likelihood of the loss is remote, a contingent liability should be A. Disclosed, but not reported as a liability. B. Disclosed and reported as a liability. C. Neither disclosed nor reported as a liability. D. Reported as a liability, but not disclosed.

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