Business, 25.07.2020 18:01, ericasolis2614
Huprey Co. is the defendant in the following legal claims. For each of the following claims, indicate whether Huprey should (a) record a liability, (b) disclose in notes, or (c) have no disclosure. 1. Huprey is very likely to lose a pending lawsuit. It reasonably estimates that damages paid will be $1,070,000. Record a liability. Disclose in notes. No disclosure. 2. It is reasonably possible that Huprey will lose a pending lawsuit. Huprey and its lawyers cannot estimate what the damages will be if it loses. Record a liability. Disclose in notes. No disclosure. 3. There is a remote (unlikely) chance Huprey will lose a pending lawsuit. The plaintiff is suing Huprey for $5,000,000. Record a liability. Disclose in notes. No disclosure.
Answers: 1
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Huprey Co. is the defendant in the following legal claims. For each of the following claims, indicat...
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