Kenistone Ltd prepares financial statements to 30 April each year. At 30 April 2023, the company is
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Kenistone Ltd prepares financial statements to 30 April each year. At 30 April 2023, the company is being sued by a customer who claims to have been harmed by one of the company's products. The case will come before the courts in late 2023. Explain how this matter should be dealt with in the financial statements for the year to 30 April 2023 if:
(a) The company's lawyers advise that the company will probably be found liable
(b) The company's lawyers advise that the company will probably not be found liable.
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Related Book For
International Financial Reporting a practical guide
ISBN: 9781292439426
8th Edition
Authors: Alan Melville
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