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If management considers a material loss contingency to be probable but an amount cannot be reasonably estimated, the proper accounting treatment is: 1
If management considers a material loss contingency to be probable but an amount cannot be reasonably estimated, the proper accounting treatment is:
1. note disclosure only.
2. accrual in the financial statements only.
3. accrual in the financial statements and note disclosure.
4. no adjustment or disclosure necessary.
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