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Tyrone is worried that he might accidentally urinate when he reaches orgasm. What would you tell him concerning this issue?
Lawsuit Loss
Financial loss recognized by a company due to legal judgments or settlements in lawsuits.
Reasonably Possible Loss
A loss that is not assured but has a good chance of occurring, requiring disclosure in financial statements if quantifiable and material.
Losses Accrued
Expenses that have been incurred but not yet paid or recorded in the financial statements.
Probable Loss
An expected financial loss from contingent liabilities that can be reasonably estimated.
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