Question 17 Kitogawa Company has a contingent liability in the future that is unlikely to happen and the amount is not significant. What is the appropriate accounting Not yet treatment for the contingent liability? answered Marked out of Select one: 1.00 a. Neither recorded in the accounting records nor disclosed in the notes to the financial statements. P Flag question O b. Recorded in a journal entry only. O c. Disclosed in the notes only. O d. Recorded in a journal entry and disclosed in the notes to the financial statements. Previous page Next page