Skill Hardware is the plaintiff in a $16 million lawsuit filed against a supplier. The litigation is in final appeal and legal counsel advises that it is virtually certain that Skill will win the lawsuit and be awarded $12 million. How should Skill account for this event? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.)

• The contingency is acrrued.
• The contingency is not accrued.
• This is a gain contingency.
• This is a loss contingency.
• It is probable that the confirming event will occur.
• The contingency can be reasonably estimated.
• A disclosure note should describe the contingency.
• None of these