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In the accounting records of a defendant, lawsuits: Are estimated liabilities Should always be recorded Should always be disclosed Should be recorded if payment for damages is probably and the amount can be reasonably estimated Should never be recorded

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In the accounting records of a defendant, lawsuits:

1. 1. Are estimated liabilities
   2. Should always be recorded
   3. Should always be disclosed
   4. Should be recorded if payment for damages is probably and the amount can be reasonably estimated
   5. Should never be recorded