could I get an answer and explanation for question 11 please?

Which of the following statements related to estimated liabilities is false? They are known obligations of an uncertain amount that can be reasonably estimated. Include a comany's obligations to pay employee with bonuses that dependon the company's net income They are contingent on the likelihood that a future event will occur. Include a comany's obligations for employees' vacation benefits Question 11 In August 2022, an explosion occurred at Howe Co.'s plant, causing damage to area properties. By December 2021 , several claims had been asserted against Howe. Howe's legal counsel concluded that it was probable that Howe would be held responsible for the damages, and that $400,000 would be a reasonable estimate of the damages. The claims are expected to be resolved by March 2025. In Howe's December 31, 2022 financial statements, how should this casualty be reported? Accrued a loss of $400,000 on the income statement only without any effects on the balance sheet. As a note disclosing a probable liability of $400,000. No note disclosure of accrual will be required for 2021 because the claims will not be resolved until 2024. Accrued a loss of $400,000 on the income statement and accrued a liability of $400,000 on the balance sheet