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Houston Company is involved in a lawsuit. In which of the following situations is only a note disclosure of the contingent liability reported within the
Houston Company is involved in a lawsuit. In which of the following situations is only a note disclosure of the contingent liability reported within the financial statements? Multiple Choice When the loss is reasonably possible and the amount can be reasonably estimated. When the loss is remote and the amount cannot be reasonably estimated. When the loss is remote and the amount can be reasonably estimated. When the loss is probable and the amount can be reasonably estimated.
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