Multiple Choice
Onopea Inc. considered two contingencies at the end of 2016: ** a probable loss in the range of $200,000 to $900,000
** a reasonably possible loss of $150,000
Under IFRS, what is the balance for contingent liabilities at the end of 2016?
A) $200,000
B) $550,000
C) $350,000
D) $1,050,000
Correct Answer:
Verified
Correct Answer:
Verified
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