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@rubinamohsin how can u say that Contingent assets should not be recognised???
In KAPLAN book its RECOGNISE
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
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