Economics · Financial Accounting
According to IAS 37, a contingent asset should be:
Verified Solution4 OptionsUpdated: October 2026👁️1 View
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- 1Recognized in the financial statements if it is probable.
- 2Disclosed by note if an inflow of economic benefits is probable.✓
- 3Not disclosed if the likelihood of an inflow is remote.
- 4Not disclosed under any circumstances.
Correct answer
Disclosed by note if an inflow of economic benefits is probable.
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