Which items must be disclosed regarding loss contingency/asset impairment?

• A. Nature of the contingency; Estimate of the possible loss or range (or that such an estimate cannot be made)
• B. Nature of the contingency; Carrying amount of the insurer’s liability only
• C. Estimate of the possible loss; Carrying amount of the receivable only
• D. Carrying amount of the liability; Tax implications

Answer: (A)