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  3. a contingent liability that is remote is usually

A contingent liability that is remote is usually a. Recorded in the balance sheet...

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Accounting

A contingent liability that is remote is usually

a. Recorded in the balance sheet as a liability only.

b. Reported in the balance sheet as a liability and discussed in a footnote.

c. Reported in a footnote only.

d. Not reported in the balance sheet and not disclosed in a footnote.

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