The following statement was made by the Deputy President SA Forgie of the Administrative Appeals Tribunal: "[80] The fact that a contingent liability is dependent upon the occurrence of certain events and will not become an actual liability unless those events occur does not mean that it is a liability that can be ignored. Taxpayers maintaining books of account would record it as a contingent liability during the term of the guarantee and while those events have not yet come to pass. They do so because events may expose them to an actual liability and they must make provision for it." (emphasis added) (Willersdorf-Greene v CMR of Taxation (2009) AATA 649) Required a) Evaluate the Deputy President's argument with reference to principles for the definition and recognition of liabilities according to AASB 137