Which of the following would appear on the balance sheet as a current liability?
A) a probable loss in the amount of $4 million from a pending lawsuit
B) a possible loss in the amount of $4 million from a pending lawsuit
C) a probable loss from a pending lawsuit, the amount of which is not yet determinable
D) a lawsuit for $4 million for which the likelihood of loss is remote
Correct Answer:
Verified
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