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What the treatment of the bank guarantee in the records

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Reference no: EM132725019

Problem 1: Angus Ltd has provided a bank guarantee to a bank in relation to a loan provided to Brown Ltd. Brown Ltd is solvent and shows no signs of defaulting on the loan. The treatment of the bank guarantee in the records of Angus Ltd is to:

Select one:

Option 1: recognise a provision

Option 2: None of these

Option 3: do nothing

Option 4: recognise a liability

Option 5: recognise a contingent liability

Reference no: EM132725019

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