Business, 07.05.2021 18:00 ginnysharp6411

Skill Hardware is the plaintiff in a $16 million lawsuit filed against a supplier. The litigation is in final appeal and legal counsel advises that it is virtually certain that Skill will win the lawsuit and be awarded $12 million. How should Skill account for this event? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) check all that apply The contingency is acrrued. unanswered The contingency is not accrued. unanswered This is a gain contingency. unanswered This is a loss contingency. unanswered It is probable that the confirming event will occur. unanswered The contingency can be reasonably estimated. unanswered A disclosure note should describe the contingency. unanswered None of these

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Skill Hardware is the plaintiff in a $16 million lawsuit filed against a supplier. The litigation is...