X company is being sued for $2 million. x Company's lawyer estimates that there is a probability of 40% that x company will have to pay out $2 million. x Company should deal with this: Select one: a. By ignoring the case completely in the financial statements b. None of these options c. By disclosing details of the case in the Notes to the accounts but NOT recognizing a liability in the Balance Sheet d. By recognising an asset of $1 million e. By recognizing a liability of $1 million