Brief Exercise 13-14 (Static) Contingency [LO13-5, 13-6] Skill Hardware is the plaintiff in a $16 million lawsuit filed against a supplier. The litigation is in final appeal and legal counsel advises that it is virtually certain that Skill will win the lawsuit and be awarded $12 million. How should Skill account for this event? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) The contingency is acrrued. The contingency is not accrued. This is a gain contingency. This is a loss contingency. It is probable that the confirming event will occur. The contingency can be reasonably estimated. A disclosure note should describe the contingency. None of these