Debt guarantees are a are considered to be a contingent, Ask an Expert

Accounting

Debt guarantees are:

a) are considered to be a contingent liability.

b) are never disclosed in the financial statement

c) are a bad business practice.

d) are recorded as a liability even though it is highly unlikely that the original debtor will default.

e) all of those.

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M9401048

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