a. An entity is involved in a dispute with a competitor, who is alleging that the entity has infringed copyright and is seeking damages of RM15 million. The entity does not want to accrue or disclose the claim for compensation of RM15 million as it believes that disclosure will prejudice the outcome of the litigation. Required:

Advise the entity

b. supplier of burger patties signed a contract to deliver 1 million patties a month to the retailer. The contract price was RM500,000 but after signing the contract, the supplier discovered that he would have to source for the patties at a cost of RM700,000. The supplier could not get out of the contract.