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Instructions? On December 20, 2014, a former employee filed a legal action against Baylor for $100,000 for wrongful dismissal. Management believes the action to be

Instructions?

On December 20, 2014, a former employee filed a legal action against Baylor for $100,000 for wrongful dismissal. Management believes the action to be frivolous and without merit. The likelihood of payment to the employee is remote.

question?

Is it a loss contingency? If it is, then we need torecognize how much as loss contingency and how much we have to disclose as loss contingency.

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