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A contingent liability is disclosed in the notes to the financial statements onily, until it is resolved. is not disclosed in the financial statements. definitely
A contingent liability
is disclosed in the notes to the financial statements onily, until it is resolved.
is not disclosed in the financial statements.
definitely exists as a liability but its amount andor resolution date are intieterminable.
is accrued even though it cannot be geasonably estimated.
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Accounting for Governmental and Nonprofit Entities
Authors: Earl R. Wilson, Jacqueline L Reck, Susan C Kattelus
15th Edition
978-0256168723, 77388720, 256168725, 9780077388720, 978-007337960
