Question
ABC Company is being sued for $15,000,000. After discussing the lawsuit with the company's attorneys it is determined the lawsuit will not result in a
ABC Company is being sued for $15,000,000. After discussing the lawsuit with the company's attorneys it is determined the lawsuit will not result in a loss. ABC still must record a contingent liability in their financial records.
True of false?
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Financial Accounting Theory
Authors: Craig Deegan
3rd Edition
0070277265, 978-0070277267
