A Company Has Been Sued for Product Failures Allegedly Resulting

question 202

Multiple Choice

A company has been sued for product failures allegedly resulting in injuries to the individuals bringing the lawsuit.The company's lawyers believe it is more than remote,but less than probable,that the lawsuit will result in an actual liability.Which of the following actions should be taken by the company's management?

• A) The liability should be estimated and recorded as an expense.
• B) The situation should be described in a note to the financial statements.
• C) The possible liability should be ignored.
• D) Management should consider resigning.

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Definitions:

LinkedList< T >

A collection data structure that consists of nodes where each node contains a data element of type T and a reference to the next node in the sequence.

Iterator Interface

An interface in Java that provides methods for iterating over any collection of objects, one element at a time.

Methods

Functions associated with an object in object-oriented programming, capable of performing specific actions or operations.

Collection Class

A class that acts as a container for multiple elements, such as arrays, lists, and sets, providing operations for adding, removing, and iterating over elements.