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Huprey Co. is the defendant in the following legal claims. For each of the following separate claims, indicate whether Huprey should (a) record a liability,
Huprey Co. is the defendant in the following legal claims. For each of the following separate claims, indicate whether Huprey should (a) record a liability, (b) disclose in notes, or (C) have no disclosure. : No disclosure 1. Huprey is being sued for damages of $2,000,000. It is very unlikely (remote) that Huprey will lose the case. 2. It is probable that Huprey will lose a pending lawsuit. Huprey can reasonably estimate the amount of damages to be paid if it loses the lawsuit. Huprey faces the possibility of a loss on a pending lawsuit. It is reasonably possible that Huprey could be required to pay damages. However, it cannot 3. estimate amounts owed
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