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Unless the probability of any outflow in a settlement is remote, an entity needs to disclose for each class of contingent liability: the possibility of
Unless the probability of any outflow in a settlement is remote, an entity needs to disclose for each class of contingent liability:
the possibility of any reimbursement.
an indication of the timing and amount uncertainties.
an estimate of its financial effect.
All of the given answers must be disclosed.
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