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?"
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Based on the calculations, we have the following:
- The area of the sheet of paper is 96 square inches.
- The combined area of the triangle cutouts is equal to 36 square inches.
- The area of the parallelogram is equal to 60 square inches.
- The altitude of the parallelogram is equal to 6.51 square inches.
<u>Given the following data:</u>
- Dimension of paper = 12-inch by 8-inch.
<h3>How to calculate the paper's area.</h3>
Mathematically, the area of the paper is given by this formula:

Area = 96 square inches.
<u>For the four (4) right triangles:</u>
- Dimension 1 = 2 inches by 9 inches.
- Dimension 2 = 3 inches by 6 inches.
Therefore, the combined area of the triangle cutouts is given by:

<h3>The area of the parallelogram.</h3>
This would be determined by subtracting the area of the four (4) right triangles from the areas of the paper as follows:

P = 60 square inches.
<h3>The altitude of the
parallelogram.</h3>

Altitude = 6.51 square inches.
Read more on parallelogram here: brainly.com/question/4459854
<u>Complete Question:</u>
A parallelogram is cut out of a 12-inch by 8-inch sheet of paper. There are four right triangle remnants. Two have the dimensions 2 inches by 9 inches, and the other two have the dimensions 3 inches by 6 inches. The resulting parallelogram has a base of approximately 9.22 inches.
Merchandising. That is, if that is one of your answer choices. Chances are, they won't be selling the reef any time soon.
Answer:
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