LO 3 Problem 9-21A Contingent liabilities Required a. Give an example of a contingent liability that is probable and reasonably estimable. Ho would this type of liability be shown in the accounting records? b. Give an example of a contingent liability that is reasonably possible or probable but ne reasonably estimable. How would this type of liability be shown in the accounting records Give an example of a contingent liability that is remote. How is this type of liability shown. the accounting records? c.

LO 3 Problem 9-21A Contingent liabilities Required a. Give an example of a contingent liability that is probable and reasonably estimable. Ho would this type of liability be shown in the accounting records? b. Give an example of a contingent liability that is reasonably possible or probable but ne reasonably estimable. How would this type of liability be shown in the accounting records Give an example of a contingent liability that is remote. How is this type of liability shown. the accounting records? c.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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