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giselle tello
on Nov 18, 2024

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Event is reasonably possible but amount is not estimable

Contingent Liability

A potential financial obligation that depends on a future event occurring or not occurring.

Reasonably Possible

A term used to describe the likelihood of an event occurring that is more than remote but less than probable, often used in financial reporting.

Not Estimable

A term indicating that something cannot have its value, size, or amount accurately determined or calculated.

  • Determine and implement proper accounting practices for contingent liabilities.
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RM
Raghav MishraNov 20, 2024
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