CH10 Due 4/19 instructions i hel Question 4 (ot 4) Save&Eit; Submn 4. 2.50 point

Question

CH10 Due 4/19 instructions i hel Question 4 (ot 4) Save&Eit; Submn 4. 2.50 points Buzz Coffee Shops is famous for its large servings of hot coffee Alter a famous case involving the lawyer for Buzz wamed management (during 2011) that it could be cofflee and be bumed. " you're sued for $1,000,000. Buzz felt the kelhood was remote prediction came true when a customer filed suit. After possible but not ikely or probable. The case went to trial in 2014, and the jury awarded the customer McDonalds With the temperature of your coffee, I can guarantee è's just a matter of time before be sued if someone were to spill ht Unfortunanely, in 2013, the lawyer's consulting with his atomey, Buzz feit he loss was 000 in damages, which the company immediately appealed. Bz felt a loss was probable but believed a lower amount could be negotisted. During 2015, the customer and the dispute for $150,000 company settled their State which of the following statemens) are true. (Select all that apply) Buzz must disclose in a nobe that a potential lablry exists because the lability is possible Buzz must disclose the iablity in a note because the trial judgment makes the kelhood of a lablity probable the amount of the loss stll is not estiemable (because a lower amount is expected to be negotated) Buzz must now record the loss and the labilty because the out of court setlement made the $150,000 loss certain Buzz must disclose in a nobe that a potenial liability exists because the liability is possible in 2013. Buzz must record or disclose the liability because the chance of the lability occurring is remote in 2014 Buzz must disclose the liability because the chance of the lability occurming is remote in 2015 References eBook&Resources;

Explanation / Answer

Following statements are true

for 2014 and 2014, buzz no need to record the liabilities because the chances of occurring those liabilities are remote

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