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Whar amber will record a liability on the balance sheet

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Reference no: EM132684735

Problem 1: Amber's Diner is sued by a customer who contracted food poisoning from eating Sunny Side Up eggs at the restaurant. Amber will record a liability on its balance sheet related to the lawsuit if its legal counsel believes the likelihood of losing the lawsuit is:

Option 1: reasonably possible.

Option 2: remote.

Option 3: probable.

Reference no: EM132684735

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