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If a contingent liability is probable and the amount of the liability can be reasonably estimated, it is a. not recorded but should be disclosed. b. recorded and disclosed. c. recorded only. d. not recorded
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If a contingent liability is probable and the amount of the liability can be reasonably estimated, it is

a. not recorded but should be disclosed.
b. recorded and disclosed.
c. recorded only.
d. not recorded and not disclosed.

User Amritpal Nagra
by
8.2k points

1 Answer

8 votes
B. Recorded and disclosed
User Divyang Patel
by
8.5k points
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