What is a contingency? How is it different from an estimated liability?
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Under ASPE a contingent liability is defined as a possible obligation ...View the full answer
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Related Book For 
Accounting Principles Part 2
ISBN: 978-1118306796
6th Canadian edition Volume 1
Authors: Jerry J. Weygandt, Donald E. Kieso, Paul D. Kimmel, Barbara Trenholm, Valerie Kinnear, Joan E. Barlow
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