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hi mike
In this question I thought there is an contingent asset because Greenie will claim insurance hence there is an ecomomic benefit?
Thanks
Hi, am answering this without the question in front of me.
If there is an undisputed insurance claim receivable, and it’s 95 or better percent certain to be received, it should be recognised.
If it’s between 50% and 95% probable, disclose
Anything less, ignore
Just be careful when reading the question that the claim is not being disputed by the insurers
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