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Accounting for Contingencies: Probable, Possible, and Remote

Accounting for Contingencies: Probable, Possible, and Remote. FASB Statement No. 5:

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Accounting for Contingencies: Probable, Possible, and Remote

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    1. 1 Accounting for Contingencies: Probable, Possible, and Remote FASB Statement No. 5: “. . . an existing condition, situation, or set of circumstances involving uncertainty as to possible gain . . . or loss . . . to an enterprise that will ultimately be resolved when one or more future events occur or fail to occur.”

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    3. 3 Likelihood Accounting Action

    4. 4 Likelihood Accounting Action

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