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Which of the following is true about the contingent assets?

1. Always recognized in the statement of financial position2. Always disclosed in the notes to the financial statements3. Disclosed in the notes if an inflow of economic benefits is probable4. Disclosed in the notes unless an inflow of economic benefits is only remotely possible

Asset Financial Accounting
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Question added by Deleted user
Date Posted: 2013/08/28
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Prince Ninan
by Prince Ninan , Audit Executive , Lewis & Pecker

Always disclosed in notes to accounts  

Deleted user
by Deleted user

Option2

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