For each of the following scenarios, indicate whether a liability is probably, possible, or remote, whether it is estimable or not estimable, and whether the company should accrue a contingent liability, disclose only, or do nothing Contingent Liabilities Scenario Probability Estimable Action Bjork Inc just found out that their leading shampoo product causes permanent hair loss No one has filed suit yet, nor do they have any idea of how many people are affected, nor what the potential liability could be Select Probable , Possible , Remote Select Not Estimable , Estimable Select Disclose , Accrue , Do Nothing Missus Chen's Bakery is being sued by Mrs Chen's Bakery for Trademark infringement Missus Chen's lawyers believe it is likely they will lose and have to pay $80,000 $100,000 in damages Select Probable , Possible , Remote Select Estimable , Not Estimable Select Accrue , Do Nothing , Disclose Gomes' Plumbing is being sued by a customer who claims Gomes' faulty work caused their basement to flood They are claiming $50,000 in damages Gomes' work was reviewed by a city inspector who is willing to testify that the work was top notch and not responsible for the flood Select Possible , Probable , Remote Select Estimable , Not Estimable Select Disclose , Accrue , Do Nothing Jenga Inc has received a letter from a local environmental group threatening to sue unless they stop using wood to making their games Select Remote , Possible , Probable Select Not Estimable , Estimable Select Do Nothing , Accrue , Disclose An employee is suing Billy Bob's Bar for $100,000 and is claiming wrongful termination The employee received a glowing performance review a month before the termination, but is suspected of stealing from the company Select Possible , Probable , Remote Select Estimable , Not Estimable Select Disclose , Do Nothing , Accrue

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For each of the following scenarios, indicate whether a liability is probably, possible, or remote, whether it is estimable or not estimable, and whether the

For each of the following scenarios, indicate whether a liability is probably, possible, or remote, whether it is estimable or not estimable, and whether the company should accrue a contingent liability, disclose only, or do nothing.

Contingent Liabilities
Scenario	Probability?	Estimable?	Action
Bjork Inc. just found out that their leading shampoo product causes permanent hair loss. No one has filed suit yet, nor do they have any idea of how many people are affected, nor what the potential liability could be.	[ Select ] ["Probable", "Possible", "Remote"]	[ Select ] ["Not Estimable", "Estimable"]	[ Select ] ["Disclose", "Accrue", "Do Nothing"]
Missus Chen's Bakery is being sued by Mrs. Chen's Bakery for Trademark infringement. Missus Chen's lawyers believe it is likely they will lose and have to pay $80,000 - $100,000 in damages.	[ Select ] ["Probable", "Possible", "Remote"]	[ Select ] ["Estimable", "Not Estimable"]	[ Select ] ["Accrue", "Do Nothing", "Disclose"]
Gomes' Plumbing is being sued by a customer who claims Gomes' faulty work caused their basement to flood. They are claiming $50,000 in damages. Gomes' work was reviewed by a city inspector who is willing to testify that the work was top notch and not responsible for the flood.	[ Select ] ["Possible", "Probable", "Remote"]	[ Select ] ["Estimable", "Not Estimable"]	[ Select ] ["Disclose", "Accrue", "Do Nothing"]
Jenga Inc. has received a letter from a local environmental group threatening to sue unless they stop using wood to making their games.	[ Select ] ["Remote", "Possible", "Probable"]	[ Select ] ["Not Estimable", "Estimable"]	[ Select ] ["Do Nothing", "Accrue", "Disclose"]
An employee is suing Billy Bob's Bar for $100,000 and is claiming wrongful termination. The employee received a glowing performance review a month before the termination, but is suspected of stealing from the company.	[ Select ] ["Possible", "Probable", "Remote"]	[ Select ] ["Estimable", "Not Estimable"]	[ Select ] ["Disclose", "Do Nothing", "Accrue"]