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A contingent liability that is 'reasonably possible' but 'cannot reasonably be estimated' A) must be recorded and reported as a liability. B) does...
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18. A contingent liability that is “reasonably possible” but “cannot reasonably be estimated” a. must be recorded and reported as a liability.

b. does not need to be recorded or reported as a liability. c. must only be disclosed as a note to the financial statements. d. must be reported as a liability, but not recorded.
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Subject: Accounting, Business

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