Pending lawsuits:
A) Should always be recorded.
B) Should be disclosed if payment for damages is probable but the amount cannot be reliably estimated.
C) Should always be disclosed.
D) Are always considered estimated liabilities.
E) None of these answers is correct.

Question

Quizplus · Accepted Answer

Pending lawsuits should be disclosed if it is probable that payment for damages will occur, but the amount cannot be reliably estimated.

Pending Lawsuits