What type of disclosure or accounting do you believe isnecessary for the following items?(a) Because of a general increase in the number of labordisputes and strikes, both within and outside the industry,there is an increased likelihood that a companywill suffer a costly strike in the near future.(b) A company reports a material unusual and infrequentloss on the income statement. No other mentionis made of this item in the annual report.(c) A company expects to recover a substantial amountin connection with a pending refund claim for aprior year’s taxes. Although the claim is being contested,counsel for the company has confirmed theclient’s expectation of recovery

Question

What type of disclosure or accounting do you believe is
necessary for the following items?
(a) Because of a general increase in the number of labor
disputes and strikes, both within and outside the industry,
there is an increased likelihood that a company
will suffer a costly strike in the near future.
(b) A company reports a material unusual and infrequent
loss on the income statement. No other mention
is made of this item in the annual report.
(c) A company expects to recover a substantial amount
in connection with a pending refund claim for a
prior year’s taxes. Although the claim is being contested,
counsel for the company has confirmed the
client’s expectation of recovery

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