resent obligation is not a contingent liability but shall be recognized as a provision when * a. Amount is reasonably estimable and event occurs infrequently b. Amount is reasonably estimable and occurrence of event is probable c. Event is unusual in nature and occurrence of event is probable d. Event is unusual in nature and event occurrs infrequently
resent obligation is not a contingent liability but shall be recognized as a provision when * a. Amount is reasonably estimable and event occurs infrequently b. Amount is reasonably estimable and occurrence of event is probable c. Event is unusual in nature and occurrence of event is probable d. Event is unusual in nature and event occurrs infrequently
Chapter12: Current Liabilities
Section: Chapter Questions
Problem 11MC: Which of the following best describes a contingent liability that is unlikely to occur? A. remote B....
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The present obligation is not a
a. Amount is reasonably estimable and event occurs infrequently
b. Amount is reasonably estimable and occurrence of event is probable
c. Event is unusual in nature and occurrence of event is probable
d. Event is unusual in nature and event occurrs infrequently
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