(Answered) Environmental and public health claims are quickly growing

Accounting

Environmental and public health claims are quickly growing into some of the largest contingent liabilities facing companies. For example, tobacco, asbestos, and environmental cleanup claims have reached billions of dollars and have led to a number of corporate bankruptcies.

Managers must be careful that today's decisions do not become tomorrows nightmare.

Should there be a fiscal cap on the amount a company should be liable for?

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Accounting Basics, Accounting

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