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.Prepare a journal entry. C.Make a disclosure in a financial statement footnote. D.Make a note to the financial statements and prepare a journal entry.thanks for helpalpereicated itpaihjr

Financial statements typically include three primary reports: The balance sheet, which shows the…

Answered: A company has a pending law

Business

Accounting

A company has a pending law

Business Its Legal Ethical & Global Environment

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ISBN:9781305224414

Author:JENNINGS

Publisher:JENNINGS

Chapter10: Cyberlaw, Social Media, And Privacy

Section10.1: Employers, Employees, And Cyberlaw

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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 company do?

Nothing.

Prepare a journal entry.

Make a disclosure in a financial statement footnote.

Make a note to the financial statements and prepare a journal entry.

thanks for help

alpereicated it

paihjr

Definition Definition Method of recording financial transactions in the book of original entry by debiting and crediting the accounts affected by a transaction using the golden rules of accrual accounting.

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