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discuss which ingredient of a fundamental quality or enhancing quality is being applied or violated. At December 31, 2014, a company is involved in a

discuss which ingredient of a fundamental quality or enhancing quality is being applied or violated.

  1. At December 31, 2014, a company is involved in a substantial lawsuit that may force the company into bankruptcy if they lose. Because of this uncertainty, the company chooses not to prepare financial statements until April 2016 when the lawsuit is ultimately finalized.

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