Question:A contingent liability should be recorded in the accounts when: 

A it is probable  the contingency will happen, but the amount cannot be reasonably estimated. 
B it is reasonably possible the contingency will happen, and the amount can be reasonable estimated. 
C it is probable the contingency will happen and the amount can be reasonable estimated. 
D it is reasonably possible the contingency will happen but the amount cannot be reasonably estimated. 

+ Answer
C 

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Md. Saydul Alam

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