For the year ended $\frac{31}{12}\frac{?}{2020},$ the financial statements of ABC Company were authorized for issue on $\frac{31}{3}\frac{?}{2021}.$

In $2020,$ABC recognized $$20$ million as a provision for lawsuits in its financial statements. On $\frac{18}{3}\frac{?}{2022},$ the Court finally ordered ABC to pay $$25$ million to the competitor

How should IAS $10$ account for this event?

Select one:

a$.$

Income Statement $5000000$

Provision for Lawsuits

$5000000$

b$.$

Loss from Lawsuits $,5000000$

Provision for Lawsuits

$5000000$

C$.$

Loss from Lawsuits $25000000$

Provision for Lawsuits

$25000000$

d$.$ All answers are false

e$.$

Loss from Lawsuits $20000000$

Provision for Lawsuits

$20000000$

f$.$

NO Action

g$.$

Provision for Lawsuits

$5000000$

Loss from Lawsuits

$5000000$

h$.$

Disclosure in the notes