Reeves Co.filed suit against Higgins,Inc.,seeking damages for copyright violations.Higgins' legal counsel believes it is probable that Higgins will settle the lawsuit for an estimated amount in the range of $100,000 to $200,000,with all amounts in the range considered equally likely.How should Higgins report this litigation?
A) As a liability for $100,000 with disclosure of the range.
B) As a liability for $150,000 with disclosure of the range.
C) As a liability for $200,000 with disclosure of the range.
D) As a disclosure only.No liability is reported.
Correct Answer:
Verified
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