Required information . Knowledge Check 01 Kent Company has a calendar year-end. On December 15, Year 1, a customer was injured using a product manufactured by Kent. That customer has not yet filed a lawsuit or made a claim. Kent has not yet distributed its Year 1 financial statements. What must Kent do with regards to those financial statements? 5 Multiple Choice Since no claim had been asserted as of year end, no accrual or disclosure Is necessary it is probable that a clim will be asserted it should be treated as if the claim had been assorted Since the event giving rise to the claim took place before your end, accrunt and disclosure is necessary . Since the event giving rise to the claim took place before year-end, disclosure but not accrual is necessary