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The following questions are based on The Solitary Auditor book. Under what general conditions must companies record loss contingencies? Could the potential EPA-related loss contingency

The following questions are based on "The Solitary Auditor" book.

Under what general conditions must companies record loss contingencies? Could the potential EPA-related loss contingency of BRIC Industries require the company to adjust its year-end financial statements? Explain. (See Chapter 17 for more background information)

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