In accordance with IAS 37 Provisions,Contingent Liabilities and Contingent Assets which TWO of the following statements are correct?
A.
No disclosure is required for a contingent liability where an outflow of economic benefits is possible.
B.
A contingent asset should be recognized if it is possible an inflow of economic benefit will be received.
C.
A contingent asset should be disclosed where an inflow of economic benefits is probable.
D.
A probable liability of uncertain timing and amount should provided for.