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A liability arising from a loss contingency should be recorded if the A. Contingent future events have a reasonably possible chance of occurring. B. Contingent
A liability arising from a loss contingency should be recorded if the | |
A. | Contingent future events have a reasonably possible chance of occurring. |
B. | Contingent future events have a reasonably possible chance of occurring and the amount of the loss can be reasonably estimated. |
C. | Contingent future events will probably occur and the amount of the loss can be reasonably estimated. |
D. | Amount of the loss can be reasonably estimated. |
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