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QUESTION
A company has a pending lawsuit that has a remote possibility of being settled in favor of the plaintiff who is a former employee. What should the
A company has a pending lawsuit that has a remote possibility of being settled in favor of the plaintiff who is a former employee. What should the company do?
A.
Nothing.
B.
Make a disclosure in a financial statement footnote.
C.
Prepare a journal entry.
D.
Make a note to the financial statements and prepare a journal entry.
