What type of disclosure or accounting do you believe is necessary for the following items? a. b. C. Because of a general increase in the number of labor disputes and strikes, both within and outside the industry, there is an increased likelihood that a company will suffer a costly strike in the near future. A company reports a material unusual and infrequent loss on the income statement. No other mention is made of this item in the annual report. A company expects to recover a substantial amount in connection with a pending refund claim for a prior year's taxes. Although the claim is being contested, counsel for the company has confirmed the client's expectation of recovery.