A contingency need not be recorded nor disclosed when
A) it is probable the contingency will happen and the amount can be reasonably estimated.
B) it is probable the contingency will happen but the amount cannot be reasonably estimated.
C) it is reasonably possible the contingency will happen and the amount can be reasonably estimated.
D) the possibility of the contingency happening is remote.

Question

Quizplus · Accepted Answer

A contingency need not be recorded nor disclosed when the possibility of the contingency happening is remote.

A Contingency Need Not Be Recorded nor Disclosed When