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How Should a Contingent Liability That Has an Unlikely Chance

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Short Answer

How should a contingent liability that has an unlikely chance of occurring and is insignificant in size be disclosed? How should a contingent liability that has an unlikely chance of occurring and is insignificant in size be disclosed?


Definitions:

Globalization

Occurs as people become increasingly aware of, and dependent on, one another.

Wind

Air in motion relative to the surface of the Earth, ranging from gentle breezes to powerful gusts and storms, caused by the uneven heating of the Earth's surface.

Hundred-mile Diet

A lifestyle choice to consume only foods grown or produced within a hundred miles of one's residence, aiming to support local economies and reduce environmental impact.

World Population

The total number of humans currently living on the planet, which as of my last update, was approaching 8 billion.

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