Firms do not recognize certain obligations that are uncertain as to amount or timing or both as liabilities, unless those items meet a probability threshold and have a reliable measurement attribute. U.S. GAAP refers to these as _____, such as the possible obligation under an unsettled lawsuit
a. contingent liabilities
b. unrealized contingencies
c. realized contingencies
d. unrecognized contingencies
e. recognized contingencies
D
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