Rose and Tina are looking over a case in their textbook that talks about product warranties. Rose says that these are unlikely to all occur, therefore, they should be considered remote contingencies, but Tina disagrees, saying that at least some of them are likely to occur. Who is correct in this situation? Rose, product warranties are reasonably possible contingencies and should be disclosed in the notes. Tina, product warranties are probable contingencies and should be recorded in the accounts. Tina, product warranties are reasonably possible contingencies and should be recorded in the accounts. Rose, product warranties are remote contingencies and should not be recorded