[Barbie]

@rubinamohsin how can u say that Contingent assets should not be recognised???

In KAPLAN book its RECOGNISE

[Barbie]

I saw in kaplan book.. its like this.

Virtually certain Contingent liabilities- Provide COntingent asset- recognise
Probable Contingent liabilities -Provide COntingent asset- disclose
Possible Contingent liabilities -Disclose COntingent asset-Ignore
Remote Contingent liabilities-Ignore COntingent asset-Ignore

[Author]

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