answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Nataly [62]
2 years ago
11

Your company was recently served with a lawsuit. The outcome of the litigation will not be determined for several months, but it

could result in a materially large settlement to be paid by your corporation According to GAAP, what action should you take? SELECT ONLY ONE Take no action, because it may be dismissed Provide a disclosure on financial statements regarding the pending litigation Wait for the outcome of the lawsuit to address stakeholders Ensure information regarding the lawsuit is not revealed Provide a statement to employees and stockholders
Business
1 answer:
klemol [59]2 years ago
4 0

Answer:

According to GAAP,Provide a disclosure on financial statements regarding the pending litigation

Explanation:

According to GAAP, Provide a disclosure on financial statements regarding the pending litigation.

A statement disclosure will communicate relevant information not captured in the statement itself  to a company's stakeholders.

According  to GAAP the financial statements must have disclosure notes.

the other choices are incorrect as they do not provide any defense or protective measure against the case filed.

You might be interested in
Solomon works in the finance department of a hospital operated by the country’s national health service. The hospital wishes to
DochEvi [55]

Answer:

It would be unethical and a conflict of interest for Solomon to let his uncle in on the details because it would give his uncle an unfair advantage against the other bidding contractors. It's a form of nepotism

Explanation:

hope this helps have a great day

7 0
2 years ago
Read 2 more answers
For the year ended December 31, year 3, Colt Corp. has a loss carryforward of $180,000 available to offset future taxable income
Reika [66]
The answer is 234,000
5 0
2 years ago
_______ is used to analyze and summarize your data without graphical support.
melisa1 [442]
A ‘pivot table’ is used to analyze and summarize your data without graphical support.
4 0
2 years ago
Read 2 more answers
In a classic​ prisoners' dilemma​ example, Larry and​ Duncan, possible​ criminals, will get one year in prison if neither​ talks
viktelen [127]

Answer:

The correct answer is option B - Given this payoff matrix and the​ payoffs, each criminal has an incentive to confess.

Explanation:

The prisoner's dilemma demonstrates the tradeoffs between cooperative and non-cooperative behavior.

The two individuals are being held prisoner for the same crime. However, they are in separate cells with no possibilities of communication.

With the payoff's given in the table, the best response of player 1 is to confess whether or not player 2 chooses to cooperate. Confess is also a dominant strategy for player 2 whether or not player 1 chooses to cooperate.

Therefore, the correct answer is option B - Given this payoff matrix and the​ payoffs, each criminal has an incentive to confess.

5 0
2 years ago
Karsten runs a forklift at work. She also uses hand tools to perform her tasks. Sometimes Karsten has to talk to customers about
Gala2k [10]

Answer:

Facility and Mobile Equipment Maintenance and Warehousing and Distribution Center Operations.

Explanation:

Analyzing Karsten's roles in her current job, it is possible to identify that she could probably have careers in maintaining mobile facilities and equipment and storage and distribution center operations.

Karsten demonstrates that she is a responsible employee in her role by documenting important information that may affect her professional obligations, which gives her the ability to handle responsibilities for storage operations and distribution centers, tasks that require organization, as well as communication with customers about the products and services ordered, which is also essential for an organization’s distribution sector. From the information in the text it is also possible to identify aptitude for maintenance of mobile facilities and equipment, since she drives a forklift at work and sometimes uses hand tools to perform her tasks.

8 0
2 years ago
Other questions:
  • American airlines found that for some jobs it was unwise to train workers on equipment used at the work site. therefore, a speci
    5·1 answer
  • Mentally estimate the total cost of items that have the following prices: $1.85, $.98, $3.49, $9.78, and $6.18. Round off your a
    6·1 answer
  • Suppose that Verizon Wireless has hired you as a consultant to determine what price it should set for calling services. Suppose
    10·1 answer
  • An ordinary annuity selling at $11,417.87 today promises to make equal payments at the end of each year for the next six years (
    15·1 answer
  • Ronen Consulting has just realized an accounting error that has resulted in an unfunded liability of $ 398 comma 930 due in 28 y
    11·1 answer
  • Berry, the seller, wants Paul, the broker, to change from a single agency relationship to a transaction broker. Paul agrees to d
    12·1 answer
  • In the context of doing business in Asia, what is meant by the phrase "the contract is in the relationship, not on the paper"?
    13·2 answers
  • Seminole Corporation common stock currently sells for $32 per share. The firm recently paid a dividend of $1.25 per share. Flota
    12·1 answer
  • Your investment bank has an investment of $100 million in the stock of the Swiss Roll Corporation and a short position in the st
    15·1 answer
  • Consider the following statements about the step-down method of service department cost allocation: I. Under the step-down metho
    5·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!