Management can estimate the amount of loss that will occur if the company does not prevail in a currently contested lawsuit. If losing the suit is reasonably possible, which of the following describes how the entity may report the loss contingency in the financial statements?
Balance Sheet
Notes to Financial Statements
a. Accrued as liability Not disclosed
b. Not accrued Not disclosed
c. Not accrued Disclosed
d. Accrued as liability Disclosed
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