Existing claims related to product warranties and litigation as of December 31, 2010, indicate that it is probable that a liability has been incurred. However, as of December 31, 2010, the exact amount of the obligation cannot be reasonably estimated, but a range of possible amounts has been determined. Based on these facts, an estimated loss contingency should be Answer accrued disclosed but not accrued neither accrued nor disclosed classified as an appropriation of retained earnings

Existing claims related to product warranties and litigation as of December 31, 2010, indicate that it is probable that a liability has been incurred. However, as of December 31, 2010, the exact amount of the obligation cannot be reasonably estimated, but a range of possible amounts has been determined. Based on these facts, an estimated loss contingency should be

Answer

		accrued
		disclosed but not accrued
		neither accrued nor disclosed
		classified as an appropriation of retained earnings

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