A Lawsuit Has Been Filed Against Your Client

question 37

True/False

A lawsuit has been filed against your client.If, in the opinion of legal counsel, the likelihood your client will lose the lawsuit is remote, no financial statement accrual or disclosure of the potential loss is required.

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Definitions:

Bias

A preconceived opinion or preference that can influence judgment and decisions unconsciously or consciously.

Empathy

The ability to understand and share the feelings of another person from their point of view.

Assertiveness

A communication style characterized by confidently expressing one's feelings, needs, and rights in a direct, honest, and respectful way.

Openness

A quality or state of being open, approachable, and receptive to new ideas, experiences, or suggestions.