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Explain contingent liabilities in your own words Give an example of a contingent liability that would be recorded in the financial statements. Give an
Explain contingent liabilities in your own words Give an example of a contingent liability that would be recorded in the financial statements. Give an example of a contingent liability that would only be recorded in the footnotes to the financial statements Give an example of a contingent liability that does not get recorded or mentioned in the financial statements.
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Answer Contingent liabilities are potential obligations or liabilities that may arise in the future ...
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Accounting
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
23rd Edition
978-0324662962
