Rice Corporation's Attorney Has Provided the Following Summaries of Three

Question 65
Multiple Choice

Rice Corporation's attorney has provided the following summaries of three lawsuits against Rice: • Lawsuit A: The loss is probable,but the loss cannot be reasonably estimated. • Lawsuit B: The loss is reasonably possible,but the loss cannot be reasonably estimated. • Lawsuit C: The loss is reasonably possible and can be reasonably estimated. Which of the following statements is correct? A)A disclosure note is required for each of the three lawsuits. B)A disclosure note is required only for lawsuits A & C. C)A disclosure note is required only for lawsuit A. D)A disclosure note is required only for lawsuits B & C.