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19 19. A company closed its books on December 31, 2020 and published its financial statements on December 31, 2020. March 2021. On February 1,
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19. A company closed its books on December 31, 2020 and published its financial statements on December 31, 2020. March 2021. On February 1, 2021, a client suffered an accident and sued the company. Lawyer The company's opinion is that the company will likely have to compensate the customer for the amount of S100,000. On March 31, 2021, the case had not yet been resolved. In the 2020 financial statements the company: a It will recognize a contingent debt for S100,000 b. Will disclose the matter, but will not acknowledge any debt c Will not recognize debt and will not disclose the matter. d. More information is needed to answer the Step by Step Solution
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