A company has a loss that meets the requirement of a loss contingency in the amount of $500,000. The company has insurance coverage in the amount of 1,000,000 with a deductible of 250,000. What amount should be accrued for the loss contingency?© BrainMass Inc. brainmass.com June 3, 2020, 10:31 pm ad1c9bdddf
The insurance policy amount is $1,000,000 and the deductible of $250,000 implies that ...
The solution explains the amount to be accrued for a loss contingency