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Contingent liabilities must be recorded if: The future event is probable, and the amount owed can be reasonably estimated. The future event is remote. The
- Contingent liabilities must be recorded if:
- The future event is probable, and the amount owed can be reasonably estimated.
- The future event is remote.
- The future event is reasonably possible but not estimable.
- The amount owed cannot be reasonably estimated.
- The future event is probable but not estimable.
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