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2. Contingent liabilities should be recorded in the
books when;
a) It is probable that the future events will occur
b) The amount of the liability can be reasonable
estimated.
c) Both (a) and (b)
d) Either (a) or (b)
- 2 Answers
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Answer / kurelladhasharath
contingent liabilities nothing but the amount of the liability can be reasonable estimated
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