A company is facing a pending lawsuit with a potential liability of $200,000. The probability of losing
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A company is facing a pending lawsuit with a potential liability of $200,000. The probability of losing the lawsuit is estimated at 60%. How should the company record this contingent liability?
Related Book For
Financial Accounting and Reporting a Global Perspective
ISBN: 978-1408076866
4th edition
Authors: Michel Lebas, Herve Stolowy, Yuan Ding
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