IAS 37 provision, contingent liabilities and contingent assets In which of the following circumstances should an expense for 450,000 $ be recognized? 1- for damages in a lawsuit that the reporting company has 75% chances of losing The damage claim is for 600,000$ 2- for the expected cost to dismantle an oil platform as required by low. The cost is 700,000 $ which has present value 450,000 3- for the cost 450,000$ tom make good land contaminated a result of past years operation a law requiring clear up is virtually certain to be