How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask linda_us Your Own Question
linda_us
linda_us, Master's Degree
Category: Multiple Problems
Satisfied Customers: 7291
Experience:  A tutor for Business, Finance, Accounts and other related topics.
19873544
Type Your Multiple Problems Question Here...
linda_us is online now
A new question is answered every 9 seconds

A contingent liability should be recorded in the accounts when: a.

Resolved Question:

A contingent liability should be recorded in the accounts when:
a. it is pobable the contingency will happen, but the amount can't be reasonably
b. it is reasonable possibly the contingency will happen and the amount can be reasonable estimated
c. it is probable the contingency will happen, and that amount can be reasonable estimated
d. it is reasonably possoble the contingency will happen, but the amount can't be reasonably estimated
Submitted: 4 years ago.
Category: Multiple Problems
Expert:  linda_us replied 4 years ago.
Thank you for requesting me again.

The answer is:

c. it is probable the contingency will happen, and that amount can be reasonable estimated

Regards

Linda
linda_us and other Multiple Problems Specialists are ready to help you