Business, 05.11.2020 19:10 idk12345677

A company is involved in a lawsuit for which the contingent liability is remote. How should the liability be treated on the balance sheet? a. It should be disclosed in the notes only.
b. It should not be recorded and need not be disclosed.
c. It should be recorded as a current liability.
d. It should be recorded as a long-term liability.

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A company is involved in a lawsuit for which the contingent liability is remote. How should the liab...

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