When a Contingent Liability Exists,the Likelihood for Loss Can Be

Multiple Choice

When a contingent liability exists,the likelihood for loss can be evaluated as probable,reasonably possible,or remote.A reasonably possible loss is

A) a loss where the chance of occurrence is slight
B) a loss that is likely to occur
C) a loss where the chance of occurrence is moderate
D) falls between the chance of occurrence is slight and a loss is likely to occur