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The restaurant business you own is being sued: A customer was intoxicated and is seeking $60,000. Lawyers believe the company could be found guilty, but
The restaurant business you own is being sued: A customer was intoxicated and is seeking $60,000. Lawyers believe the company could be found guilty, but are unable to confirm the amount yet. Which statement is true?
a. The information should be disclosed in the additional Contingency notes.
b. The information must be disclosed in the additional notes on "contractual commitments".
c. The information does not have to be disclosed.
d.. none of the above
e. The amount should be recorded as a liability
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