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valentinak56 [21]
3 years ago
5

December 2017, Becker Corp. learned of a favorable judgement of 1.5 million relating to litigation involving a competitor. The c

ompany's attorney informs Becker that the opposing litigant has filed an appeal and that the company may ultimately receive about $400,000. How should they recognize this gain contingency on financial statements?
Business
1 answer:
spayn [35]3 years ago
7 0

Answer: Disclose the gain contingency in the notes only

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