QUCJIUN 2) Contingent liabilities should be recorded if: The loss is both probable and estimable The loss can be estimated The loss is at least reasonably possible and estimable The likelihood of the loss is greater than remote Question 28 45 If a bond is issued where the stated rate of interest is less than the market rate of interest, which of the following will be true? Interest Expense will be more than cash interest paid Interest Expense will be less than cash interest paid The bond will be issued at a premium Cannot be determined from the information given