What Is a "Contingent Asset

Multiple Choice

What is a "contingent asset?"

A) There is no such thing,in either IASB standards or U.S.GAAP,as a "contingent asset."
B) This is an asset that has been put up as collateral against a loan.
C) This is a possible inflow of resources arising from a future activity.
D) It is a probable asset,arising from past events ,whose existence is yet to be confirmed definitively by a future event.