Question
Debt guarantees are: Never disclosed in the financial statements. Considered to be contingent liabilities. A bad business practice. Recorded as liabilities even though it is
Debt guarantees are:
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Never disclosed in the financial statements.
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Considered to be contingent liabilities.
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A bad business practice.
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Recorded as liabilities even though it is highly unlikely that the original debtor will default.
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Considered to be current liabilities.
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Financial Accounting
Authors: Patricia A. Libby, Daniel Short, George Kanaan, Maureen Libby Gowing, Robert Libby
4th Canadian Edition
0070001499, 9780070001497
