I NEED THIS ASAP!

PLEAS MAKE SURE TO DESCRIBE CONTINGENT LIABILITY YOU SELECTED.

Research the topic of contingent liabilities and identify a specific real or theoretical contingent liability.

Compose a recommendation that covers the following:

Describes the contingent liability you have selected.

Recommends whether this contingent liability should be reported and why or why not. (Be sure to include GAAP support for your conclusion!)

If you recommend reporting of this contingent liability, justify how it would be reported.