Multiple Choice
Which statement is correct about provisions,contingent assets and contingent liabilities?
A) The same probability threshold is used to record contingent liabilities and provisions.
B) The same probability threshold is used to record contingent assets and contingent liabilities.
C) Possible contingent liabilities are recorded.
D) Virtually certain contingent assets are recorded.
Correct Answer:
Verified
Correct Answer:
Verified
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