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Uncertainties such as natural disasters are: Multiple Choice Not contingent liabilities because they are future events not arising from past transactions or events. Contingent liabilities

Uncertainties such as natural disasters are:

Multiple Choice

  • Not contingent liabilities because they are future events not arising from past transactions or events.

  • Contingent liabilities because they are future events arising from past transactions or events.

  • Disclosed because of their usefulness to financial statements.

  • Estimated liabilities because the amounts are uncertain.

  • Reported in the same way as debt guarantees.

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