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Term Of The Hour

IFAS and GAAP: Original post by Austin Berry of Demand Media A contingent liability must be probable and estimable to be recorded in corporate accounts. http://photos2.demandstudios.com/DM-Resize/photos.demandstudios.com/getty/article/129/213/78463146.jpg?w=700&h=700&keep_ratio=1 Comstock/Comstock/Getty Images Contingent liabilities are potential costs to a business that are accounted for based on the…

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