There are two categories of lawsuits: outstanding (or asserted)claims,and
A)possible or unasserted claims.
B)disputed claims among several parties.
C)settled claims.
D)claims that could result in material misstatements.

Question

Quizplus · Accepted Answer

Possible or unasserted claims refer to circumstances where a company may face potential legal claims or litigation, but no actual claim has been filed or asserted against them. This may include situations where a company is aware of a potential liability but has not yet been notified or sued by the party making the claim. Therefore, possible or unasserted claims are a distinct category from outstanding (asserted) claims.

There Are Two Categories of Lawsuits: Outstanding (Or Asserted)claims,and