Which of the Following Statements Regarding Contingencies Is True

question 72

Multiple Choice

Which of the following statements regarding contingencies is true?

• A)Contingencies that are probable and not estimable appear on the balance sheet.
• B)Contingencies that are probable and not estimable are disclosed in the notes to the financial statements.
• C)Contingencies that are remote but estimable are disclosed in the notes to the financial statements.
• D)Contingent assets are recorded on the balance sheet,but not in the notes to the financial statements.

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