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Under IFRS, a contingent liability is recorded if: Select one: Oa the amount of the loss can be reasonably estimated and it is likely
Under IFRS, a contingent liability is recorded if: Select one: Oa the amount of the loss can be reasonably estimated and it is likely that a loss has been incurred. O b. an asset has been permanently reduced in value. O c. it is certain that cash is available to pay for any losses. Od. the amount of the loss can be reasonably estimated and it is probable that a loss has been incurred.
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