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When a company sets up a provision to recognize a contingency, the provision would appear on the statement of financial position as a Select answer

When a company sets up a provision to recognize a contingency, the provision would appear on the statement of financial position as a Select answer from the options below current liability if the contingency will be settled within a year. long-term liability, whether or not settlement is expected within a year. note to the financial statements. contra account against the asset that may be given up as part of the settlement

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