Decision to record the two million dollar loss

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Reference no: EM13257248

let's assume the weatherman says a hurricane is coming in the nextthree days, headed straight for our location, and it's March 31st. If the hurricane hits our business, we can reasonably be assuredthat we will incur a $2 million loss.

We want to finish closing March's books. Should we record the $2million loss? Why or why not?

Reference no: EM13257248

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