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Management can estimate the amount of loss that will occur if the company does not prevail in a currently contested lawsuit. If losing the suit
Management can estimate the amount of loss that will occur if the company does not prevail in a currently contested lawsuit. If losing the suit is reasonably possible, which of the following describes how the entity may report the loss contingency in the financial statements?
Balance Sheet | Notes to Financial Statements |
a. Accrued as liability Not disclosed
b. Not accrued Not disclosed
c. Not accrued Disclosed
d. Accrued as liability Disclosed
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