The financial accounting standards board (fasb) defines loss contingency as______________.A. an existing condition or situation involving uncertainty as to possible loss that will ultimately be resolved when one or more future events occur or fail to occurB. an existing condition or situation involving certainty as to possible loss that will ultimately be resolved when one or more future events occur or fail to occurC. an existing condition or situation involving uncertainty as to possible loss that will ultimately be resolved when one or more future events fail to occurD. an existing condition or situation involving uncertainty as to possible gain that will ultimately be resolved when one or more future events occur or fail to occurA. an existing condition or situation involving uncertainty as to possible loss that will ultimately be resolved when one or more future events occur or fail to occur.
