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Fox Company reasonably estimates that it has an 80% chance of losing anywhere from $200,000 to $700,000 in a lawsuit began this year, but not
Fox Company reasonably estimates that it has an 80% chance of losing anywhere from $200,000 to $700,000 in a lawsuit began this year, but not yet settled. No single amount in this range is more probable than any other amount. What amounts of loss should be accrued under U.S. GAAP and under IFRS, respectively?
Group of answer choices
a. $700,000 & $400,000
b. $200,000 & $450,000
c. $200,000 & $400,000
d. $450,000 & $200,000
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