DEF Inc. entered into a non-cancellable commitment to purchase raw materials in the amount of $30,000 on December 31st, 2010. Replacement cost was estimated at $25,000 on November 30th, 2010 and this amount was not expected to change. Which of the following statements is correct? O a. Select one: This is an onerous contract. However, the $5,000 loss should only be disclosed in the financial statements and not accrued. b. This is an onerous contract. A loss must be accrued in the amount of $5,000. O c. This is not an onerous contract. A loss must be accrued in the amount of $5,000. O d. This is not an onerous contract Clear my choice