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206 I: 1353111423 .e Corp. is a defendant in a lawsuit. Blythe's attorneys believe it is reasonably possible that the suit will require
Blythe to pay a suhsmutial amount. What is the proper :nancial statement treatment for this contingency? Accrued and
disclosed. Accrued but not disclosed. Disclosed hut not accrued. T's-o disclosure or accrual.

206 

FAR211428

 0 0

 Blythe Corp. is a defendant in a lawsuit. Blythe's attorneys believe it is reasonably possible that the suit will require Blythe to pay

 a substantial amount. What is the proper inancial statement treatment for this contingency?

 Accrued and disclosed.

 Accrued but not disclosed. 

(Disclosed but not accrued. 

No disclosure or accrual.
 

Transcribed Image Text:

206 Blythe Corp. is a defendant in a lawsuit. Blythe's attorneys believe it is reasonably possible that the suit will require Blythe to pay a substantial amount. What is the proper #nancial statement treatment for this contingency? Accrued and disclosed. Accrued but not disclosed. FAR211428 Disclosed but not accrued. No disclosure or accrual. 206 Blythe Corp. is a defendant in a lawsuit. Blythe's attorneys believe it is reasonably possible that the suit will require Blythe to pay a substantial amount. What is the proper #nancial statement treatment for this contingency? Accrued and disclosed. Accrued but not disclosed. FAR211428 Disclosed but not accrued. No disclosure or accrual.

Answer rating: 100% (QA)

The proper financial statement treatment for this contingency is Disclosed but not ac... View the full answer