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Company A faces the possibility of a loss on a pending lawsuit. Legal counsel feels it is probable that Insightful could be required to pay
Company A faces the possibility of a loss on a pending lawsuit. Legal counsel feels it is probable that Insightful could be required to pay damages however legal counsel was unable to estimate the amount of such damages. Under US GAAP, Company A should not accrue the loss but should disclose it in the notes to the financial statements. T or F
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