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Swell Company has a lawsuit pending from a customer claiming damages of $100,000. Swell's afformey advises that the likellhood the customer will win is remote
Swell Company has a lawsuit pending from a customer claiming damages of $100,000. Swell's afformey advises that the likellhood the customer will win is remote GAAP requires at a minimum that this contingent liability be O A. recorded as a journal entry, as well as disclosed in the footnotes O B. disclosed in the footnotes O C. disclosed in the footnotes, with ranges of potential loss O D. No disclosure is required
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