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  3. when a contingent liability is remote, it should b

When a contingent liability is remote, it should be recorded in the accounts and disclosed...

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Accounting

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When a contingent liability is remote, it should be recorded in the accounts and disclosed in the footnotes to the financial statements. True False A 60 day 5% note receivable dated December 1, 2020 should be recorded as a noncurrent asset. True False

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