What amount if any should be recognized

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Question 1: Tigris Lid is preparing its financial statements for the year ended 30 September 2019. The Quiz navigation company is facing a number of legal claims from its customers with regards to a faulty product sold. The amount being claimed is N$3.5million. The company's lawyers sat that the customers have an Erkki Hishishii 80% chance of not being successful. As per IAS 37 what amount if any should be recognized in respect 1 2 3 4 of this in Tigris Lid.'s Statement f financial position on 30 September 2019?

Option a. N$2.8 million

Option b. N$0.7 million Finish attempt .

Option c. N$3.5 million Time left 0:06:22

Option d. No amount should be recognized.

Reference no: EM132625908

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