A typical balance sheet provides no information regarding which of the following questions? Multiple Choice 0 To whom does the company owe money? For what does the company owe money? How much does the company owe? What proportion of the company's debts will be paid in the short-term? O O O When the amount of a contingent liability can be estimated and it is likely, the company should: Multiple Choice include a description in the footnotes to the financial statements. 0 record the estimated amount of the liability times the probability of its occurrence. 0 record the liability and estimated amount of the loss on the balance sheet. 0 omit the information about the contingent liability from its financial statements and footnotes. Which of the following is a standard of recognition of contingent liabilities required by IFRS: Multiple Choice O recognize the liability if the occurrence of the future event is likely meaning it is highly probable. recognize the liability if the occurrence of the future event is more likely than not meaning its probable and it is also measurable. O does not require that it be measurable. O Recognize the liability if the occurrence of the future event is certain