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A liability arising from a loss contingency should be recorded if the ?

A. Amount of the loss can be reasonably estimated.

B. Contingent future events have a reasonably possible chance of occurring. C. Contingent future events have a reasonably possible chance of occurring and the amount of the loss can be reasonably estimated.

D. Contingent future events will probably occur and the amount of the loss can be reasonably estimated.

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Question added by Deleted user
Date Posted: 2015/03/07
VENKITARAMAN KRISHNA MOORTHY VRINDAVAN
by VENKITARAMAN KRISHNA MOORTHY VRINDAVAN , Project Execution Manager & Accounts Manager , ALI INTERNATIONAL TRADING EST.

Contingent future events will probably occur and the amount of the loss can be reasonably estimated.

Option:   D

Nancy Refai
by Nancy Refai , Health, safety and environmental management Trainer and consultant , Freelancer

D is the nearest best answer

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