What is the difference between a current liability for an uncertain amount and a contingent liability? Give

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What is the difference between a current liability for an uncertain amount and a contingent liability? Give an example of each and demonstrate how they differ with respect to the difference that you identified in the first part of this question.

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Financial Accounting

ISBN: 978-0133052152

2nd edition

Authors: Robert Kemp, Jeffrey Waybright

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Question Posted: Apr 29, 2014 02:56 AM

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What is the difference between a current liability for an uncertain amount and a contingent liability? Give

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With a current liability of an uncertain amount the business has incurred an obliga...View the full answer

Financial Accounting

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