173 In February 2014, Ceramic Crucibles of America was notified by the state of Colorado that the state was investigating the company's Durango...

Read Discussion Case 17-29 in chapter 17 in your textbook.

There are two questions to answer in this assignment.

Question A – How would the contingency be classified in the accounting literature, and how should it be accounted for?

Question B – Would the amount be material to the financial statements?

I COPY THE DISCUSSION CASE FROM THE BOOK TO THE WORD. (ATTACHED)

I NEED TO ANSWER MINIMUM 50 WORDS TO EACH QUESTION.