If an employee of the business files a legal suit on business, it is considered in the books as

Name: If an employee of the business files a legal suit on business, it is considered in the books as
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When an employee files a legal suit against a business, it is considered a Contingent Liability in the books. This is because the outcome of the lawsuit and any potential financial obligation are uncertain and depend on the result of the event (the lawsuit in this case).

If an Employee of the Business Files a Legal Suit