Business, 07.12.2019 06:31 tacaurus

You are auditing rodgers and company. you are aware of a potential loss due to noncompliance with environmental regulations. management has assessed that there is a 40% chance that a $10m payment could result from the non-compliance. the appropriate financial statement treatment is to
a. since there is less than a 50% chance of occurrence, ignore.
b. since there is greater that a remote chance of occurrence, accrue the $10 million.
c. accrue a $4 million liability.
d. disclose a liability and provide a range of outcomes.

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You are auditing rodgers and company. you are aware of a potential loss due to noncompliance with en...

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