Business, 25.02.2020 01:40, mariahcid904

Management can estimate the amount of loss that will occur if the company does not prevail in a currently contested lawsuit. If losing the suit is reasonably possible, which of the following describes how the entity may report the loss contingency in the financial statements?

Balance Sheet

Notes to Financial Statements

a. Accrued as liability Not disclosed
b. Not accrued Not disclosed
c. Not accrued Disclosed
d. Accrued as liability Disclosed

Answers: 3

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Management can estimate the amount of loss that will occur if the company does not prevail in a curr...