A company has a pending lawsuit that has a remote possibility of being settled in favor of the plaintiff who is a former employee What should the company do A Nothing B Make a disclosure in a financial statement footnote C Prepare a journal entry D Make a note to the financial statements and prepare a journal entry

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A company has a pending lawsuit that has a remote possibility of being settled in favor of the plaintiff who is a former employee. What

A company has a pending lawsuit that has a remote possibility of being settled in favor of the plaintiff who is a former employee. What should the company do?

Nothing.

Make a disclosure in a financial statement footnote.

Prepare a journal entry.

Make a note to the financial statements and prepare a journal entry.

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