jagdeep7336 jagdeep7336

30-11-2019
Business

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Aviation Systems is involved in a $10 million lawsuit filed against one of its suppliers, Electronic Innovators. The litigation is in final appeal, and legal counsel advises that it is probable that Aviation Systems will win the lawsuit and be awarded somewhere between $6 and $10 million. Which of the following statement is true?

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marialejandray marialejandray

02-12-2019

Answer:

Gain contingencies are not recorded

Explanation:

Aviation Systems must take into account that it is an uncertain situation that MAY result in a gain but is not garanteed.

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