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Find the treatment of the bank guarantee in the records

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Reference no: EM132519558

Question 1: Grandfather Ltd has provided a bank guarantee to a bank in relation to a loan provided to Son Ltd. Son Ltd B is solvent and shows no signs of defaulting on the loan. The treatment of the bank guarantee in the records of Grandfather Ltd is to:

Option a. recognise a liability

Option b. recognise a provision

Option c. recognise a contingent liability

Option d. do nothing

Reference no: EM132519558

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