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    Financial Accounting IFRS Study Set 1
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    Exam 15: Accounting and Financial Reporting for Contingent Liabilities and Leases
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    If an Event May Become an Actual Liability in the Future
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If an Event May Become an Actual Liability in the Future

Question 73

Question 73

Multiple Choice

If an event may become an actual liability in the future, it is called a


A) potential liability.
B) hypothetical liability.
C) probabilistic liability.
D) contingent liability.

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