Answer:
Explanation:
Tommy's misconception in the problem below, is that his expression of the shaded area is the shaded area / non-shaded area, when the fraction for the shaded area should be the shaded area / total area
In accordance with GAAP, the action you should take when the company was served with a lawsuit is to provide a disclosure on financial statements regarding the pending litigation.
<h3>What is GAAP?</h3>
GAAP means Generally accepted accounting principles which is a accounting standards that guides the details, complexities and legalities of accounting.
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In conclusion, the action you should take when the company was served with a lawsuit is to provide a disclosure on financial statements regarding the pending litigation.
Missing word"The outcome of the litigation will not be determined for several months, but it could result in a materially large settlement to be paid by your corporation. According to GAAP, what action should you take?"
Read more about GAAP
<em>brainly.com/question/17895474</em>
10000 I believe that is the answer
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