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What would make this statement true? Accounting for contingent liabilities covers three possibilities: (1) The future event is probable and the amount cannot be reasonably

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What would make this statement true?

Accounting for contingent liabilities covers three possibilities: (1) The future event is probable and the amount cannot be reasonably estimated; (2) The future event is remote or unlikely to recur; (3) The likelihood of the liability to occur is impossible. 3. Answer: FALSE

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