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Contingent liabilities abound in the real world. Life and health insurance companies and their stockholders wonder how big the cost of diabetes, Alzheimers, and AIDS

Contingent liabilities abound in the real world. Life and health insurance companies and their stockholders wonder how big the cost of diabetes, Alzheimer’s, and AIDS really are and what damage they might do in the future.

Why do you think most companies disclose but do not record contingent liabilities?

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