A contingent liability that cannot be reasonably estimated

Finance

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A contingent liability that cannot be reasonably estimated

a. may be recordded as a balance sheet item or disclosed in a footnote to the financial statements, at the discretion of management
b. may be disclosed in a footnote to the financial statements at the discretion of the management
c. need not be disclosed in the footnotes to the financial statements
d. must be reported as a liability on the balance sheet
e. requires disclosure in a footnote to the financial statements if it is at least reasonably possible

Answer: E

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